George Kurtz, co-founder, president and CEO of CrowdStrike (CRWD) – Get CrowdStrike Holdings, Inc. Class A Report, the cybersecurity company, told Jim Cramer on a recent episode of “Mad Money” that difficult times like these have made everybody using data realize how important it is to protect it.
Kurtz said that cyberattacks have increased since the war in Ukraine began. He said attackers are hoping the invasion will be a distraction for companies and allow them to gain access.
Concerns around financial institutions have risen since sanctions on Russia have taken effect, which is why CrowdStrike helps secure 15 of the top 20 financial companies in the world.
CrowdStrike has also partnered with Amazon Web Services (AMZN) – Get Amazon.com, Inc. Report to help secure critical infrastructure in the cloud.
Real Money Columnist Stephen ‘Sarge’ Guilfoyle is positive on CrowdStrike. “I like CrowdStrike. I have for a long while,” Guilfoyle wrote recently. “That said, growth has been out of favor, and both CrowdStrike and Zscaler trade at three figure forward looking earnings multiples.”
Cramer noted that while CrowdStrike trades at a lofty 20 times earnings, this is one company that is worth it.
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