Jim Cramer Says CrowdStrike Reported a “Pretty Darn Good Quarter”

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks Jim Cramer shed light on. Cramer noted that the stock holds a significant position in the Charitable Trust. He said:

“Sometimes the cybersecurity stocks go out of style, but as I lay out in How to Make Money in Any Market, the cybersecurity business never goes out of style. The risk of being hacked is just too high, especially now that the bad guys have access to the tools, the artificial intelligence tools, which brings me to CrowdStrike, that’s a key position in my Charitable Trust, has been for years, reported what I thought was a pretty darn good quarter last night.

The company posted a nice top and bottom line beat, while their net new annual recurring revenue, the key metric, came in at $265 million. Wall Street was only looking for $239 million. Maybe all you need to know. Of course, the stock temporarily pulled back in response to the quarter… opening down… almost 20 bucks, before rebounding to finish up more than $8. And that’s what almost always happens to CrowdStrike, and then the stock tends to bounce back.”

Photo by Artem Podrez on Pexels

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity solutions. The company offers protection for endpoints, cloud systems, identities, and data.

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Disclosure: None. This article is originally published at Insider Monkey.