Despite those stellar gains, I think that this cybersecurity company could still turn a $1,000 investment made today into a position worth more than $4,400 over the next decade.
If its annual revenues eventually approach $20 billion as ARR reaches management's target, a 38% free cash flow margin could produce about $7.6 billion of annual free cash flow.
CrowdStrike currently trades at roughly 160 times trailing free cash flow, giving it a market capitalization of about $243 billion.
That could turn a $1,000 investment into more than $4,400.
A more bearish 50-times multiple would value CrowdStrike near $380 billion and turn $1,000 into around $1,560.