We were absolutely correct when supposing that a 13% to 15% of price adjustment may be enough for a very fast mobilisation of dip buyers in businesses like CrowdStrike (CRWD). A sharp fall of Palo Alto Networks (PANW) last month temporarily pulled Crowdstrike in its wake, exactly to the expected depth. Yet, only two weeks later, the stock reached its new all-time high above $370 per share, after soaring by nearly 25% in March 6 pre-market trading. This is about $100 per share, or 35% higher, compared to the intraday low on February 21, which reflects an amazing recovery, partially on hopes ahead of the company's quarterly release on late night of March 5 and additionally, and much stronger, soon after strong numbers and 2024 projections were published.

The cybersecurity firm's financial results and guidance were so impressive that it pushed up even some CrowdStrike peers like Fortinet (FTNT, +3.5% before the opening bell on March 6) and previously unlucky Palo Alto (PANW). As to CrowdStrike (CRWD) itself, it revealed a 33% increase in YoY revenue, including a 27% growth in the so-called net new Annual Recurring Revenue (ARR), a 25% rise in operating margin and a high 33% level of free cash flow. EPS (equity per share) and total sales key metrics reached $0.95 (doubled vs the data published in March 2023) and $845 million (compared to $637 million one year ago). CrowdStrike has an ambitious goal of approaching $10 billion in ARR over the next few years, which looks quite achievable as demand for comprehensive cybersecurity solutions is growing.

Great contributions of the company's Falcon Platform, due to its ease of deployment, ability to encourage the adoption of additional modules, its strong performance in non-endpoint solutions, such as cloud security - a go-to-market strategy with customer reach from large enterprises to small and medium-sized businesses, in other words - made this success real. Collaborations with Dell (DELL), which recently raised its market value by more than 30%, was noted by several analyst groups like Rosenblatt and Stifel to keep their Buy ratings for the stock even at current levels. On the intrinsically AI-centric market, some of them shifted their price target for CrowdStrike to $400 and above. We totally agree with them, yet even feel this approach as being rather conservative, to set our target for 2024 to $450 at least.