CrowdStrike is a buy, just not yet. Here's why

Key points

• CrowdStrike on Wednesday evening reported better-than-expected quarterly results and better-than-expected forward guidance, only to see its near-record-high stock sell off.
• The hot money that got in, looking for a Hewlett Packard Enterprise or Dell type post-earnings surge, no doubt booked profits, sending shares down more than 11% to around $664 each.
• We're not short-term thinkers.
• Revenue in CrowdStrike's fiscal 2027 first quarter increased 26% year over year to $1.39 billion, exceeding the 1.36 billion consensus estimate, according to LSEG.
• Adjusted earnings per share (EPS) surged 51% to $1.10 in the quarter ended April 30, ahead of the $1.07 estimate, LSEG data showed.