CrowdStrike: Growth Trajectory And Sustainable Operational Performance Justify Valuation

Thomas Barwick Investment Thesis Since my last publication in December 2022, CrowdStrike (NASDAQ:CRWD) has delivered impressive FY24 results, driven by robust new customer acquisitions and increased module adoption. Furthermore, the company's trajectory towards achieving GAAP profitability by FY25 underscores the strength of its profitable business model. With CRWD's sustained sales momentum, I project a revenue growth rate of 24% over the next 3 years, positioning its forward FY27 EV/Sales at 12.4x. This v ...