CrowdStrike Holdings Inc (NASDAQ:CRWD) is surging Thursday after the cybersecurity company reported better-than-expected financial results and issued strong guidance, but the stock should be trading even higher, according to Ritholtz Wealth Management's Josh Brown.
"If this were a normal market environment this stock would be $250 plus," Brown said Thursday on CNBC's "Fast Money Halftime Report."
Under current market conditions, high-growth stocks are unable to sustain any sort of momentum, he said, but that doesn't change anything about the stock.
"If it fades tomorrow, it really won't change my opinion. This company's results and fundamentals are what are important and there are very few companies that I can think of that are hitting it the way this company is right now," said Brown, who has a long position in the stock.
See Also: Crowdstrike Shares Rise After-Hours On Strong Q4 Results
CrowdStrike said revenue grew 63% year-over-year to $431 million, which beat the $410.91 million estimate. The company reported adjusted quarterly earnings of 30 cents per share, which beat the estimate of 20 cents per share.
CRWD Price Action: CrowdStrike has traded between $150.02 and $298.48 over a 52-week period.
The stock was up 12.6% at $191.14 at time of publication.
Photo: courtesy of CrowdStrike.
