Palo Alto Networks (PANW) shares surge higher this morning since reporting mixed fourth-quarter earnings estimates after the closing bell last Friday — a timing deemed unusual by many analysts. Independent Solutions Wealth Management Portfolio Manager Paul Meeks joins Yahoo Finance Live to discuss Palo Alto Networks' earnings results, which he calls "the one" long-term cybersecurity stock investors should own.
"A key takeaway is that cybersecurity will still be designated spend... but here's the rub," Meeks explains, "because the cost of capital, the cost of borrow for its customers is high and getting higher, they are buying the product, they're buying the services, but they're opting for deferred payment plans. And so we have to keep an eye on this."
Meeks also comments on the general outlook for the cybersecurity sector as it becomes a high-priority service amid heightened cyber risks.
