CrowdStrike (CRWD), a service that provides cloud-based endpoint security products, has increased its customer numbers by 50% since the end of January this year. In the last two quarters, a third of CrowdStrike’s, 3,789 subscribed customers were attained. Their customer base rose 102% in the fiscal year 2019 (ended January).
The growing numbers have risen due to their focus on corporate endpoint protection – laptops, desktops, servers, virtual machines as well as IoT devices. IDC estimates this market will globally be worth $7.6 billion this year.
Seven new cloud modules have been launched since 2016, by CrowdStrike, on its Falcon platform, which brings the total to 10. Falcon Prevent, its main endpoint product, debuted in 2017. The company also offers solutions covering security operations and threat intelligence, in addition to endpoint security.
Falcon’s hefty market cap places it among some of the largest security companies. One of the red flags of Crowdstrike is the competitive environment in endpoint security. A number of both public and private security vendors are in competition for customer dollars at the endpoint, today.
CrowdStrike is rapidly growing and has a high net revenue retention rate. It also has a strong portfolio and is a big name in the security sector and right now its stock is perfectly priced.