2 Reasons to Buy This Supercharged Nasdaq Stock Before it Jumps Higher
The Nasdaq Composite has jumped 9% in 2023 so far, giving investors some relief after last year's forgettable performance that saw the index lose a third of its value amid rising interest rates, surging inflation, recessionary fears, and the index's strong start to the year has rubbed off positively on shares of CrowdStrike (NASDAQ: CRWD).
CrowdStrike stock has gained 21% in 2023. The cybersecurity specialist's fiscal 2023 fourth-quarter results (for the year ended Jan. 31, 2023), which were released on March 7, suggest that it is set for more upside in 2023 and beyond, especially considering that the Nasdaq may bounce back strongly this year. Let's look at two reasons why investors may want to buy CrowdStrike stock right now.
CrowdStrike reported $2.24 billion in revenue in fiscal 2023, an impressive increase of 54% over the prior year. The company's non-GAAP (adjusted) net income also jumped to $1.54 per share from fiscal 2022's figure of $0.67 per share. A 41% year-over-year increase in the company's subscription customers and robust customer retention were the reasons behind its healthy growth last quarter.
Source Fool.com
