Is It Finally Time to Buy CrowdStrike Stock Again?

CrowdStrike Holdings (NASDAQ: CRWD) is off to a hot start so far in 2023. Just two and a half months into the new year, shares have rallied over 20% -- though they still remain down over 20% from a year ago. This includes a jump higher following the company's earnings report for the fourth quarter of fiscal 2023 (the three months ended January 2023, mostly corresponding to calendar year 2022).  

Of far more importance than the last three months, though, was CrowdStrike's guidance for the year ahead. This cybersecurity leader is further cementing itself as an incredibly important player in the industry, and it's homing in on the cybersecurity pure-play revenue leaders Palo Alto Networks and Fortinet. It's been a rough go for CrowdStrike stock during the bear market. Is it finally time to start buying again?  

CrowdStrike's fiscal 2023 was challenging. With inflation coming in hot and the U.S. Federal Reserve aggressively raising rates to try to cool off the economy, the company kept up its rapid expansion. CrowdStrike closed out its fiscal 2023 with revenue of $637 million, up 48% year over year. Annualized recurring revenue (ARR), a metric used by subscription software-as-a-service businesses, grew 48% as well and ended January 2023 at $2.56 billion.  

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Source Fool.com