CrowdStrike Holdings Stock Surges on Work-From-Home and Shelter-in-Place Security Needs
CrowdStrike Holdings (NASDAQ: CRWD) had a great start to its 2021 fiscal year (the quarter that ended April 30, 2020). This wasn't just a case of a company doing well in spite of the coronavirus crisis. As a result of the worldwide disruption, CrowdStrike reported a surge in demand generated by work-from-home and shelter-in-place orders, blowing away its previous outlook for revenue growth of 73% in the first quarter.
As discussed a few months prior, it's looking like CrowdStrike has a black swan event on its hands -- a rare and hard-to-predict event that has big consequences -- but a black swan event that is propelling it into a leadership role in the cybersecurity industry.
Headed into the new fiscal year, CrowdStrike was already getting a big boost from a world going mobile. Adoption of cloud computing, Internet of Things devices, and remote work have already turned the upstart endpoint security company into one of the largest cybersecurity pure-plays out there.
Source Fool.com
