Is CrowdStrike Stock a Buy Now?
CrowdStrike's (NASDAQ: CRWD) stock price tumbled 19% on Tuesday, Nov. 29, following its latest earnings report. In the third quarter of fiscal 2023, which ended on Oct. 31, the cloud-based cybersecurity company's revenue rose 53% year over year to $581 million and surpassed analysts' estimates by $6 million. Its adjusted net income jumped 134% to $96 million, or $0.40 per share, which also cleared the consensus forecast by eight cents.
Those headline numbers look solid, but some softness in its net new annual recurring revenue (ARR) growth and a dimmer-than-expected forecast for the fourth quarter spooked the bulls. Let's see if the market overreacted to those shortcomings and if its sell-off is a good buying opportunity for long-term investors.
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Source Fool.com
