Jim Cramer: This Tech Stock Is A Buy, Qualcomm Will 'Go Higher'
On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended buying Palo Alto Networks, Inc. (NASDAQ:PANW).
Palo Alto, on July 20, entered into a definitive agreement with CyberArk to acquire the identity security company. Shareholders of CyberArk will receive $45 in cash and 2.2005 shares of Palo Alto common stock for each CyberArk share held for an approximate equity value of $25 billion.
Cramer said Qualcomm Incorporated (NASDAQ:QCOM) is expected to go higher on Wednesday, and then he recommends selling the stock.
On the earnings front, Qualcomm, on July 30, reported third-quarter revenue of $10.365 billion, up 10% year-over-year. The revenue beat a Street consensus estimate of $10.333 billion according to data from Benzinga Pro.
On Tuesday, when asked about Robinhood Markets, Inc. (NASDAQ:HOOD), Cramer said, “You take out your cost basis, you sell your cost basis tomorrow, and then you can't lose.”
Robinhood, on July 30, reported second-quarter revenue of $989 million, up 45% year-over-year. The revenue beat a Street consensus estimate of $898.95 million according to data from Benzinga Pro.
Price Action:
- Palo Alto shares fell 1.1% to settle at $169.09 on Tuesday.
- Robinhood shares declined 0.9% to close at $105.46.
- Qualcomm shares fell 0.5% to settle at $146.71 on Tuesday.
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