CrowdStrike (NASDAQ: CRWD) Updates FY 2023 Earnings Guidance

CrowdStrike (NASDAQ: CRWD – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $ 1.18- $ 1.22 for the period, compared to the consensus earnings per share estimate of $ 1.10. The company issued revenue guidance of $ 2.19 billion- $ 2.21 billion, compared to the consensus revenue estimate of $ 2.15 billion. CrowdStrike also updated its Q2 2023 guidance to $ 0.27- $ 0.28 EPS.

Shares of CRWD stock opened at $ 165.71 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.66. CrowdStrike has a fifty-two week low of $ 130.00 and a fifty-two week high of $ 298.48. The stock has a 50 day moving average price of $ 174.61 and a two-hundred day moving average price of $ 187.11.

CrowdStrike (NASDAQ: CRWD – Get Rating) last posted its earnings results on Thursday, June 2nd. The company reported ($ 0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($ 0.19) by $ 0.06. CrowdStrike had a negative return on equity of 14.50% and a negative net margin of 11.08%. The firm had revenue of $ 487.83 million for the quarter, compared to analysts’ expectations of $ 464.35 million. During the same period in the previous year, the firm earned ($ 0.14) earnings per share. The business’s revenue was up 61.1% compared to the same quarter last year. On average, analysts predict that CrowdStrike will post -0.63 earnings per share for the current year.

Several equities analysts have recently issued reports on the company. Cowen reduced their target price on CrowdStrike to $ 220.00 in a research note on Friday, June 3rd. Morgan Stanley raised CrowdStrike from an equal weight rating to an overweight rating and boosted their target price for the company from $ 195.00 to $ 215.00 in a research note on Monday, June 6th. Jefferies Financial Group upped their price target on CrowdStrike from $ 200.00 to $ 215.00 in a research note on Friday, June 3rd. Royal Bank of Canada reduced their price target on CrowdStrike from $ 275.00 to $ 225.00 in a research note on Tuesday, May 31st. Finally, Robert W. Baird upped their price target on CrowdStrike from $ 225.00 to $ 275.00 and gave the stock an outperform rating in a research note on Friday, April 8th. Twenty-nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and an average target price of $ 251.38.

In other CrowdStrike news, CFO Burt W. Podbere sold 10,000 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $ 235.09, for a total value of $ 2,350,900.00. Following the transaction, the chief financial officer now owns 321,215 shares of the company’s stock, valued at $ 75,514,434.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shawn Henry sold 20,000 shares of the stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $ 221.89, for a total value of $ 4,437,800.00. Following the completion of the transaction, the insider now directly owns 186,895 shares in the company, valued at approximately $ 41,470,131.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,839 shares of company stock worth $ 11,540,409. Corporate insiders own 6.82% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in CrowdStrike by 2.0% in the first quarter. Vanguard Group Inc. now owns 12,547,900 shares of the company’s stock valued at $ 2,849,377,000 after acquiring an additional 244,613 shares during the period. Clearbridge Investments LLC raised its stake in shares of CrowdStrike by 69.3% in the first quarter. Clearbridge Investments LLC now owns 2,310,859 shares of the company’s stock worth $ 524,750,000 after buying an additional 945,703 shares during the period. Capital Research Global Investors raised its stake in shares of CrowdStrike by 8.3% in the first quarter. Capital Research Global Investors now owns 2,044,108 shares of the company’s stock worth $ 464,176,000 after buying an additional 156,121 shares during the period. Invesco Ltd. raised its stake in shares of CrowdStrike by 30.9% in the first quarter. Invesco Ltd. now owns 1,379,621 shares of the company’s stock worth $ 313,284,000 after buying an additional 325,846 shares during the period. Finally, Northern Trust Corp raised its stake in shares of CrowdStrike by 1.1% in the first quarter. Northern Trust Corp now owns 1,343,943 shares of the company’s stock worth $ 305,183,000 after buying an additional 15,270 shares during the period. 63.02% of the stock is currently owned by institutional investors.

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.

See Also

Earnings History and Estimates for CrowdStrike (NASDAQ: CRWD)

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