We reiterate a buy on CrowdStrike (NASDAQ:CRWD) after the company reported another strong quarter. CrowdStrike announced a stellar F1Q22 beating on all metrics and guiding up. CrowdStrike continues to execute
CrowdStrike: Another Solid Quarter; Buy Opportunistically
Summary
- After solid F1Q22 results, we reiterate our buy rating on CrowdStrike. We urge long-term investors to buy shares on weakness and existing shareholders to remain invested in the stock.
- Elevated security spending, new customer additions and upsells into its install base, low churn, and displacement of legacy vendors will drive CrowdStrike revenue.
- CrowdStrike will become a formidable competitor to Splunk with its Humio acquisition. CrowdStrike hinted on the call that it displaced Splunk at a major customer.
- CrowdStrike reported another exceptional quarter beating all metrics and guided up. We expect CrowdStrike to remain a dominant security vendor in the near term.
- CrowdStrike stock will remain expensive and volatile. Hence investors should be buying shares on weakness as when opportunities are presented.
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