Stock is up 87.0% post-IPO
Cybersecurity company CrowdStrike (CRWD) went public on June 12. The company issued 18 million shares priced at $34, thereby raising $612 million in the public offering. CrowdStrike opened trading at $63.50 and reached a high of $67.0 per share on the first day of trading.
The stock closed trading at $58.0 on June 12, and it’s currently priced at $63.28. CrowdStrike stock is trading 20.7% below its high of $79.79 and 13.0% above its low of $56.0. The stock fell almost 6.0% on June 24. The day was particularly bad for recently listed stocks.
Market cap of $12.6 billion
CrowdStrike’s market cap now stands at $12.6 billion. The company has raised over $1 billion to date and has been backed by leading private equity companies including Accel, General Atlantic, and IVP (Institutional Venture Partners).
CrowdStrike is a cybersecurity company that focuses on delivering end point protection solutions. CrowdStrike delivers end point protection services as an integrated cloud solution. CRWD reported sales of $250 million in fiscal 2019, which ended in January, a rise of 100.0% year-over-year.
This means that CRWD stock is valued at 50x its 2019 sales.