Cybersecurity Boom Helps CrowdStrike Have Solid Beat-and-Raise Q4 Earnings | CRWD Stock

2 years ago
148

Shares of CrowdStrike (CRWD) breach into higher territory on solid beat-and-raise Q4 earnings, it appears that an appetite for fairly high-multiple cloud stocks is making a comeback. By trading at 18x FY23 sales, shares of the cloud-based cybersecurity company were not exactly cheap. As a result, the stock has been somewhat battered since hitting all-time highs in November, losing around 40% before Q4 earnings. Furthermore, cybersecurity peer Zscaler (ZS), which trades at a slight premium to CrowdStrike at 21x FY23 sales, experienced a sharp sell-off despite a beat-and-raise quarter of its own. CrowdStrike has consistently delivered tremendous growth in each quarter since IPO-ing in 2019. CrowdStrike is making a comeback!

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