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CrowdStrike Stock Slides 20% After Underperformance -- Is It a Contrarian Buy?

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CrowdStrike Stock Slides 20% After Underperformance -- Is It a Contrarian Buy?: https://g.foolcdn.com/editorial/images/711165/business-person-sits-alone-in-a-dark-room.jpg

After the market closed on Nov. 29, cybersecurity specialist CrowdStrike Holdings (NASDAQ: CRWD) reported financial results for the third quarter of its fiscal 2023. The stock was immediately pummeled.

Here's what CrowdStrike reported, what Wall Street didn't like, and whether investors should ignore Wall Street's concerns and buy CrowdStrike stock anyway.

In Q3, CrowdStrike generated revenue of $581 million, surpassing guidance of $576 million at the high end of management's guidance range. Moreover, the company's revenue was up 58% year over year, which looks stellar on the surface.

Source Fool.com

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