This Unstoppable Growth Stock Is Making Strides Towards a $126 Billion Market Opportunity
CrowdStrike Holdings (NASDAQ: CRWD) has been unstoppable. The cloud security company grew its annual recurring revenue (ARR) by 59% during its fiscal second quarter, pushing it to $2.14 billion. That continued its streak of steadily growing its ARR each quarter.
The cybersecurity company believes it can continue growing briskly in the coming years. Driving that view is the large and growing total addressable market (TAM) opportunity for cloud security, which it sees reaching $126 billion by 2025. It recently took a step toward capitalizing on that opportunity by making another acquisition to expand its capabilities.
At its initial public offering in 2019, CrowdStrike estimated that the TAM for its product offerings at the time was $25 billion. A combination of organic market growth, new product initiatives, and acquisitions has expanded the company's TAM to over $58 billion. It sees that rising to over $71 billion in the next two years, driven solely by organic market growth. That's a sizable opportunity for the company to work on capitalizing on in the future.
Source Fool.com
