1 Super Growth Stock Down 42% to Buy Hand Over Fist Right Now
CrowdStrike Holdings' (NASDAQ: CRWD) year went from bad to worse last month as its shares plunged 15% on Nov. 30 following the release of the company's fiscal 2023 third-quarter results (for the three months ending Oct. 31). Wall Street was unhappy with the company's outlook, but savvy investors shouldn't miss this opportunity to buy the cybersecurity specialist's stock, as it is quite capable of rebounding in 2023.
CrowdStrike crushed consensus estimates comfortably last quarter, and its guidance for the current quarter suggests it is on track to record solid growth once again. Let's take a closer look at this cybersecurity company's latest report and check why investors looking for a growth stock should consider buying it hand over fist before the new year.
CrowdStrike's fiscal Q3 revenue shot up 53% year over year to $581 million, driven by the impressive growth in sales of its cybersecurity subscriptions. The company's subscription revenue was up 53% year over year to $547 million, allowing it to coast past the $575 million consensus revenue estimate. What's more, CrowdStrike's non-GAAP net income rose to $0.40 per share from $0.17 per share in the prior-year period, well ahead of the $0.32 per share Wall Street had forecast.
Source Fool.com
