After a global outage caused by a faulty software update last year, CrowdStrike achieved a notable recovery. The company reported solid first-quarter results and announced a $1 billion share repurchase plan. CrowdStrike also announced a collaboration with Microsoft and overcame a dismissed consumer class action tied to the outage. A new chief technology officer was appointed earlier in the year. The share price is 9.0% lower than a month ago but up 22.9% year to date and more than 515.8% higher since the June 2019 IPO, having reached an all-time high of $517.98. Platform consolidation and cloud security trends indicate potential long-term upside for the stock.
After a major global outage caused by a faulty software update last year, CrowdStrike Holdings Inc. ( NASDAQ: CRWD) has demonstrated a remarkable recovery. The cybersecurity company reported solid first-quarter results and announced a $1 billion share repurchase plan. It also announced a collaboration with Microsoft, and a U.S. District Court dismissed a consumer class action lawsuit against CrowdStrike related to the global outage. Earlier in the year, CrowdStrike named a new chief technology officer.
The share price is 9.0% lower than a month ago but still up 22.9% year to date, outperforming the Nasdaq in the longer time frame. Since its initial public offering in June of 2019, the share price is over 515.8% higher. It hit an all-time high of $517.98 earlier in the summer. CrowdStrike Holdings Inc. (NASDAQ: CRWD) has become a leader in the global cybersecurity sector, thanks to high-profile hacking and cyber-espionage investigations.
Investors are concerned with future stock performance over the next one, five, or 10 years. While most Wall Street analysts will calculate 12-month forward projections, it is clear that nobody has a consistent crystal ball, and plenty of unforeseen circumstances can render even near-term projections irrelevant. 24/7 Wall St. aims to present some further-looking insights based on CrowdStrike's own numbers, along with business and market development information that may be of help with your own research.
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