Investors love the cybersecurity company’s new product announcements and partnerships.

Key Points

The company is cozying up with Alphabet’s Google Cloud and other important security and information technology companies.

The well-timed product announcements will help the cybersecurity company keep up its momentum.

CrowdStrike’s revenue grew 70% last quarter.

What happened

Shares of cybersecurity specialist CrowdStrike Holdings (NASDAQ:CRWD) jumped on Wednesday. At the close, the stock was up 7%.

The growth stock‘s gain comes as the company unveils a list of new services and features ahead of its CrowdStrike Investor Product Briefing today.

Image source: Getty Images.

So what

On Wednesday morning, CrowdStrike unveiled Falcon XDR, a service that extends the company’s endpoint detection and response to work across its entire security stack in real time. “Falcon XDR provides security teams with the data and tools to respond, contain and remediate sophisticated attacks faster,” CrowdStrike said in a press release. The company also announced CrowdXDR Alliance, a coalition made up of security and information technology organizations. Among the key partners are Alphabet‘s Google Cloud, Okta, ServiceNow, and more.

In addition, CrowdStrike announced Falcon FileVantage, which monitors crucial files and systems with modernized workflow policies.

There were a handful of other product announcements from the company, available to view in their press release archive.

Now what

CrowdStrike’s new products aim to help it increase its lead in the modern endpoint security market.

As the largest cloud-native endpoint security offering, the company has been growing incredibly fast. Its fiscal second-quarter revenue soared 70% year over year. The company’s aggressive product expansion represents management’s attempt to keep up its momentum and capture as much of this market opportunity as it can.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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Stocks

CRWD

CrowdStrike Holdings, Inc.


NASDAQ:CRWD

$270.44

up

$17.70

(7.00%)

GOOGL

Alphabet Inc.


NASDAQ:GOOGL

$2,751.64

up

$22.66

(0.83%)

NOW

ServiceNow


NYSE:NOW

$639.41

up

$10.28

(1.63%)

GOOG

Alphabet Inc.


NASDAQ:GOOG

$2,758.00

up

$23.74

(0.87%)

OKTA

Okta


NASDAQ:OKTA

$247.20

up

$12.03

(5.12%)

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