Results from both NET and DDOG have me looking at CRWD again. They have been thrown to the scrap heap by many of us this past year because of deceleration of revenue. But when you look at the pace of it, its peanuts compared to what has just happened to DDOG.
They have basically gone from 83% at the start of 2022 to say roughly 30% for 2023 (based on their guide). Absolute freefall, yet we have kept backing them.
CRWD on the other hand is going from 70%, and has stabilized in the 50’s in the past few quarters, assuming they hit their guide for Q4. Now obviously we don’t have their 2023 guide yet, but their stability has me wondering whether they will pull a Cloudflare, and deliver a guide for 2023 that actually allows them to hit 40%+, a rare breed of SaaS companies in this day and age, and has the potentials to see the market reward them this year, considering their much lower multiple.
I know there are a lot more factors at play here, CRWD are in a competitive space, but I think its worth pondering. Does anyone share any views on the future for CRWD this year and beyond?