What a time it’s been for CrowdStrike. In the past six months alone, the company’s stock price has increased by a massive 94.8%, reaching $206.38 per share. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
Following the strength, is CRWD a buy right now? Or is the market overestimating its value? Find out in our full research report, it’s free.
Why Are We Positive on CrowdStrike?
Known for detecting the massive SolarWinds hack in 2020 that compromised numerous government agencies, CrowdStrike (NASDAQ:CRWD) provides cloud-based cybersecurity solutions that protect endpoints, cloud workloads, identity, and data through its Falcon platform.
1. Billings Surge, Boosting Cash On Hand
Billings is a non-GAAP metric that is often called “cash revenue” because it shows how much money the company has collected from customers in a certain period. This is different from revenue, which must be recognized in pieces over the length of a contract.
CrowdStrike’s billings punched in at $1.59 billion in Q2, and over the last four quarters, its year-on-year growth averaged 26%. This performance was fantastic, indicating robust customer demand. The high level of cash collected from customers also enhances liquidity and provides a solid foundation for future investments and growth. 
2. Projected Revenue Growth Is Remarkable
Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite, though some deceleration is natural as businesses become larger.
Over the next 12 months, sell-side analysts expect CrowdStrike’s revenue to rise by 23.2%, close to its 36.5% annualized growth for the past five years. This projection is admirable and indicates the market is forecasting success for its products and services.
3. Customer Acquisition Costs Are Recovered in Record Time
The customer acquisition cost (CAC) payback period measures the months a company needs to recoup the money spent on acquiring a new customer. This metric helps assess how quickly a business can break even on its sales and marketing investments.
CrowdStrike is very efficient at acquiring new customers, and its CAC payback period checked in at 24.9 months this quarter. The company’s rapid recovery of its customer acquisition costs indicates it has a highly differentiated product offering and a strong brand reputation. These dynamics give CrowdStrike more resources to pursue new product initiatives while maintaining the flexibility to increase its sales and marketing investments. 
Final Judgment
These are just a few reasons why we’re bullish on CrowdStrike, and with the recent surge, the stock trades at 32.8× forward price-to-sales (or $206.38 per share). Is now a good time to buy? See for yourself in our full research report, it’s free.
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