This Hot Growth Stock Is Still a Buy After Enormous Gains

Wall Street is a wacky place. Just a few months ago, analysts were telling us to batten down the hatches for a recession. Now, all anyone wants to talk about is artificial intelligence (AI) and how we could avoid recession altogether. I have my doubts about the latter, but luckily, companies like (NASDAQ: CRWD) were AI juggernauts before it was cool, have secular growth paths, and are recession-resistant.

That doesn't mean the stock can't fall if the market retreats, of course. However, it does mean that CrowdStrike has several characteristics of a company that could outperform the market for years.

CrowdStrike stock has gained nearly 40% year to date (YTD), yet it is still 50% off its all-time high. Shown below, it trades near its lowest price-to-sales (P/S) ratio ever despite being a much stronger company now than at any point in its history. The rapid rise in revenue is just one indicator of its strength.

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Source Fool.com