2024-03-27 06:22:38 ET
Summary
- While others in the cybersecurity market like Palo Alto Networks seem to be struggling in the current environment, CrowdStrike showed relative strength and remains well positioned.
- CrowdStrike saw strong deal flow and volume across all deal segments and it is winning across the board against incumbents and leaders.
- CrowdStrike’s cloud, identity and SIEM solutions now represent $850 million in ARR and are more than doubling from the prior year.
- The company announced that it will be acquiring Flow Security, which is described by the company as the only cloud data runtime security solution.
- The 4Q23 results were strong and outlook provided also suggests strength relative to peers.
CrowdStrike Holdings ( CRWD ) ended FY2024 with a series of records and with that, this strong traction in the business gives the management strong conviction in their FY2025 outlook.
I have written extensively about CrowdStrike on Seeking Alpha, which can be found here , and I turn more positive on the company as it has demonstrated that it is deserving of a premium valuation due to its relative strength in the cybersecurity market compared to competitors, which I will elaborate below.
The Palo Alto question
CrowdStrike has always been direct in addressing its competitors.
Given Palo Alto Networks' ( PANW ) recent comments about needing to shift its strategy towards platformization given rogue behavior by vendors and some fatigue in spending in the space, CrowdStrike was once again rather direct in addressing this....
Read the full article on Seeking Alpha
For further details see:
CrowdStrike: Best-Of-Breed Cybersecurity Deserving Of Premium Valuation