Down 49% in This Bear Market, Can CrowdStrike Recover in 2023?
Crowdstrike's (NASDAQ: CRWD) quarterly revenues and earnings generally exceeded analysts' consensus estimates last year, but the cybersecurity stock still dropped by 48.5%. The company struggled with slowing growth and rising interest rates -- factors that sapped investors' appetites for risk. Growth stocks broadly suffered as a result.
CrowdStrike published mostly good news last year. The company's revenue growth rate was above 50%, and it outpaced Wall Street's projections each quarter. In its most recently reported quarter, it produced $174 million in free cash flow, a company record. High growth and strong cash generation are a rare and bullish combination, especially as other industries show signs of weakness.
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Source Fool.com
