CrowdStrike Shares Slide 7% on June 4 as Quarterly Forecasts Miss Expectations

According to Rappler, CrowdStrike shares fell 7% on Thursday, June 4, after the cybersecurity firm's quarterly forecasts failed to meet steep investor expectations. The company's market valuation of nearly $190 billion could shrink by $13 billion if losses persist.

Analysts attributed the selloff partly to profit-taking, as CrowdStrike shares have surged about 90% since March's earnings report and gained nearly 60% year-to-date. The stock was trading at 137.74 times estimated earnings for the next 12 months, compared with 68.91 times for competitor Palo Alto Networks.