Prior to Thursday’s after-hours declines, Zoom was up 157% from its initial public offering in April, Crowdstrike had risen 155% since it went public in June, and Medallia was up 74% from its IPO in July.
“The strong print and weakness in the shares has been a recent pattern,” Needham analyst Alex Henderson said. Crowdstrike traded earlier on Thursday at about 85 times expected earnings for the next 12 months, while Medallia traded at a multiple of 37, according to Refinitiv data. Both Zoom’s and Crowdstrike’s year-over-year revenue growth decelerated from their first quarters as a public company. Zoom’s sales growth slowed to 96% in the second quarter, from 103% in the first, while Crowdstrike’s growth eased to 94%, from 103%.
I for one am shocked
Shocker.
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