The Best Cybersecurity Stock On the Market Just Raised Full-Year Guidance. Is It a Buy?

Many companies are beginning to control spending to deal with future economic headwinds. However, cybersecurity is one area where they cannot afford to cut spending. In 2021, the average cost of a data breach was more than $4 million per incident, a cost that could cripple many businesses.

Cybersecurity improvements are necessary, with cybercrime expected to rise throughout the next decade, regardless of economic conditions. My top pick in this space is CrowdStrike (NASDAQ: CRWD), and unsurprisingly, it just reported a blowout quarter that included a guidance raise. Yet, the stock is down more than 40% from its all-time high. Does the market know something we don't? Or is this stock a screaming buy?

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Source Fool.com