Zscaler should be bought, according to Jim Cramer, after its earnings report has been released and the market has settled.

CNBC's Jim Cramer stated on Tuesday that the initial post-earnings decline in (ZS) shares created an opportunity for investors to purchase the cybersecurity stock.

Cybersecurity remains the hottest area in the U.S. economy, so go back in when the smoke clears, according to Cramer on 'Squawk on the Street,'

Zscaler's shares were trading at $191 each around noon ET, which was below their earlier session lows.

Zscaler's fiscal 2024 first-quarter results, released Monday evening, exceeded Wall Street expectations on both revenue and per-share earnings. Despite this, Cramer noted that investors were somewhat disappointed, particularly due to a 37% decline in total billings growth from the previous quarter.

Earlier in November, Palo Alto Networks (PANW), a holding in Cramer's Charitable Trust, experienced a decline in stock price due to concerns about billing figures in its fiscal 2024 first-quarter report. However, as of Tuesday, shares of Palo Alto Networks have recovered and reached an intraday all-time high above $276 each.

Cramer stated that he is concentrating more on the long-term prospects for Zscaler rather than just the billings metrics, as digital security threats continue to proliferate.

“I was very happy with the quarter,” Cramer said.