CrowdStrike at 45x revenue is even sillier than its valuation back in 2020, when its fundamentals were far stronger: customer count grew 116%, revenue guidance beat the Street and sales and acquisition costs fell. There was a time to own it; that time is not now. x.com 

CrowdStrike is overvalued at roughly 34x sales after rising another 10% on just a $30M revenue beat. Per @wallstengine, Q2 revenue was $1.47B against $1.44B expected, up 26%, with record net new ARR of $333M and raised full-year guidance, yet that modest beat does not justify the valuation. x.com 

CrowdStrike may distinguish itself from an expensive cybersecurity group by showing more breakneck growth at earnings next month. Fortinet's slowing product revenue exposed how much relentless execution investors had priced into the group's extreme multiples, pulling CrowdStrike down in sympathy. CrowdStrike remains in a higher tier than Fortinet, which itself ranks above SentinelOne. x.com  x.com 

CrowdStrike is now more overvalued than Cloudflare, trading at 45-50x sales for barely 26% revenue growth, which are mediocre numbers. Cloudflare's drop after its earnings could be the same script for CrowdStrike. x.com  x.com  x.com 

CrowdStrike at 30x sales for a $170 billion software company is hard to see ending well. x.com 

CrowdStrike is where the AI buildout ends, because rising AI demand expands the addressable market for security. Management said that since Anthropic's Mythos, growth has shown up in ARR, not just meetings or interest, and the threat landscape is not subsiding. The stock's move higher is a rerating: CrowdStrike can grow faster as it gets bigger, with no end in sight in an AI world, though the share price could wobble. x.com  x.com 

CrowdStrike at 40x forward sales is hard to take seriously as a best idea into 2027. x.com 

CrowdStrike's 45x sales multiple on mid-20% revenue growth only works if multiple expansion continues in perpetuity, which no long holder can count on. x.com 

CrowdStrike's re-rating reflects a massively expanded market in which security seats are defined by AI agents rather than employees. The Mythos model announcement and a frontier model going rogue with cyber attacks changed the fundamentals since the stock was at $100. It is very expensive versus its history and peers, and @InvestingVisual notes it trades at 109x forward free cash flow, but that does not mean nothing has changed. x.com 

Anthropic and OpenAI's inevitable move into cybersecurity threatens CrowdStrike and Palo Alto Networks' valuations. They look like the market's biggest bubble stocks right now; CrowdStrike trades at 40x ARR despite 25% growth and negative GAAP EBIT. x.com  x.com