Why CrowdStrike Stock Keeps Falling
For the second day in a row post-earnings, shares of cybersecurity specialist CrowdStrike Holdings (NASDAQ: CRWD) moved lower on Thursday. Not only was the stock down by more than 6% as of 2:24 p.m. ET Thursday -- and down more than 11% since earnings came out -- since hitting its recent peak price about a week ago, CrowdStrike is down more than 15%.
The question is why?
Surveying the earnings report Wednesday, my Motley Fool colleague Danny Vena ruled out all the obvious answers. CrowdStrike didn't "miss earnings" in its fiscal 2023 second quarter. To the contrary, at $0.36 per share, its adjusted earnings were 33% ahead of analysts' forecasts for the period that ended July 31. CrowdStrike didn't miss on revenues either. Its $535 million in sales were nearly $20 million more than Wall Street had predicted.
Source Fool.com
