CrowdStrike (NASDAQ:CRWD) Issues Q3 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) updated its third quarter 2023 earnings guidance on Tuesday. The company provided EPS guidance of $0.30-$0.32 for the period, compared to the consensus EPS estimate of $0.28. The company issued revenue guidance of $569.10 million-$575.90 million, compared to the consensus revenue estimate of $568.57 million. CrowdStrike also updated its FY 2023 guidance to $1.31-$1.33 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRWD shares. Oppenheimer decreased their target price on shares of CrowdStrike from $300.00 to $250.00 and set an outperform rating for the company in a research report on Friday, June 3rd. Royal Bank of Canada boosted their target price on shares of CrowdStrike from $232.00 to $236.00 and gave the company an outperform rating in a research report on Wednesday, August 31st. MKM Partners began coverage on shares of CrowdStrike in a research report on Thursday, September 15th. They issued a buy rating and a $240.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of CrowdStrike from $212.00 to $230.00 and gave the stock a buy rating in a research report on Wednesday, August 31st. Finally, TheStreet upgraded shares of CrowdStrike from a d rating to a c- rating in a research report on Wednesday, August 17th. One research analyst has rated the stock with a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat.com, CrowdStrike has a consensus rating of Moderate Buy and a consensus price target of $241.71.

CrowdStrike Price Performance

CRWD traded down $1.34 during midday trading on Friday, reaching $159.94. 73,976 shares of the company’s stock were exchanged, compared to its average volume of 4,113,137. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a market capitalization of $37.33 billion, a PE ratio of -210.13 and a beta of 1.27. The business’s 50-day moving average price is $185.18 and its 200 day moving average price is $185.74. CrowdStrike has a 1-year low of $130.00 and a 1-year high of $298.48.

CrowdStrike (NASDAQ:CRWDGet Rating) last announced its earnings results on Tuesday, August 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. The company had revenue of $535.15 million during the quarter, compared to analysts’ expectations of $516.44 million. CrowdStrike had a negative net margin of 9.45% and a negative return on equity of 12.96%. The firm’s quarterly revenue was up 58.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. As a group, equities analysts anticipate that CrowdStrike will post -0.76 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In related news, Director Godfrey Sullivan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $175.01, for a total value of $1,750,100.00. Following the completion of the sale, the director now directly owns 170,000 shares in the company, valued at $29,751,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CrowdStrike news, insider Shawn Henry sold 12,103 shares of CrowdStrike stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $200.52, for a total transaction of $2,426,893.56. Following the transaction, the insider now directly owns 180,252 shares of the company’s stock, valued at $36,144,131.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Godfrey Sullivan sold 10,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $175.01, for a total transaction of $1,750,100.00. Following the transaction, the director now directly owns 170,000 shares in the company, valued at $29,751,700. The disclosure for this sale can be found here. 6.82% of the stock is owned by insiders.

Institutional Trading of CrowdStrike

Several institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC bought a new position in shares of CrowdStrike during the first quarter worth about $223,000. Sequoia Financial Advisors LLC acquired a new stake in CrowdStrike in the 1st quarter valued at about $287,000. Eudaimonia Partners LLC acquired a new stake in CrowdStrike in the 1st quarter valued at about $330,000. GM Advisory Group Inc. lifted its holdings in CrowdStrike by 18.4% in the 1st quarter. GM Advisory Group Inc. now owns 1,522 shares of the company’s stock valued at $346,000 after acquiring an additional 237 shares during the last quarter. Finally, Sawtooth Solutions LLC acquired a new stake in CrowdStrike in the 1st quarter valued at about $354,000. 67.43% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Company Profile

(Get Rating)

CrowdStrike Holdings, Inc provides cloud-delivered protection across endpoints and cloud workloads, identity, and data. It offers threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. The company primarily sells subscriptions to its Falcon platform and cloud modules through its direct sales team that leverages its network of channel partners.

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Earnings History and Estimates for CrowdStrike (NASDAQ:CRWD)

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