Is CrowdStrike Stock a Buy?
Since the coronavirus-induced market sell-off in March, CrowdStrike Holdings' (NASDAQ: CRWD) stock price more than doubled, but it stays more than 20% below its all-time highs. As the cloud-based security specialist should profit from the increase in demand for securing remote working environments because of the coronavirus pandemic, is it still time to buy CrowdStrike stock after its recent rally?
Even before stay-at-home policies boosted the demand for remote working capabilities, CrowdStrike had been posting stellar revenue growth. During its last fiscal year ending on Jan. 31, revenue jumped 93% year over year to $481.4 million. And management expects revenue to land in the range of $723.3 million to $733.3 million during this fiscal year, up 51.3% at the midpoint. Despite that strong deceleration because of the company's growing scale, that forecasted revenue growth remains impressive.
CrowdStrike's strong growth is due to the simplicity and efficiency of its cloud-based endpoint security solution, which consists of a piece of software that protects computers and mobile devices from anywhere by leveraging cloud-based threat detection based on artificial intelligence (AI).
Source Fool.com
