Why CrowdStrike Stock Scored a 50% Gain in the First Half of 2024
Shares of cybersecurity company (NASDAQ: CRWD) scored a 50.1% gain in the first half of 2024, according to data provided by S&P Global Market Intelligence. The bulk of the stock's gains came last month after the company reported financial results for its fiscal first quarter of 2025 and subsequently got added to the S 500.
CrowdStrike stock had a smaller gain when it reported financial results for its fiscal fourth quarter of 2024 back on March 5. During its fiscal 2024, the company grew revenue by 36% to over $2.2 billion and its free cash flow surpassed $900 million. Those were things that investors wanted to see. But weakness from other players in the cybersecurity space had some investors worried about its future results.
On June 4, CrowdStrike laid a lot of concerns to rest by reporting results for its first quarter of fiscal year 2025, ended April 30, 2024. Management had guided for revenue of $906 million, at best. But the company delivered revenue of $921 million, which was a strong 33% jump from the prior-year period.
Source Fool.com
CrowdStrike Holdings Inc Stock
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