CrowdStrike (NASDAQ:CRWD) Issues FY 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $1.31-$1.33 for the period, compared to the consensus EPS estimate of $1.20. The company issued revenue guidance of $2.22 billion-$2.23 billion, compared to the consensus revenue estimate of $2.20 billion. CrowdStrike also updated its Q3 2023 guidance to $0.30-$0.32 EPS.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial restated a buy rating and issued a $275.00 target price on shares of CrowdStrike in a research note on Thursday. Citigroup boosted their target price on CrowdStrike to $245.00 in a research note on Tuesday, September 6th. Barclays boosted their target price on CrowdStrike from $215.00 to $225.00 and gave the company an overweight rating in a research note on Wednesday, August 31st. Cantor Fitzgerald initiated coverage on CrowdStrike in a research report on Wednesday, September 7th. They set an overweight rating and a $240.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on CrowdStrike from $275.00 to $250.00 and set an overweight rating on the stock in a research report on Friday, June 3rd. One investment analyst has rated the stock with a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat, CrowdStrike presently has an average rating of Moderate Buy and a consensus price target of $241.71.

CrowdStrike Trading Down 0.8 %

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

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

Insiders Place Their Bets

In other news, insider Shawn Henry sold 12,103 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $200.52, for a total value of $2,426,893.56. Following the transaction, the insider now owns 180,252 shares in the company, valued at $36,144,131.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CrowdStrike news, insider Shawn Henry sold 12,103 shares of the firm’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $200.52, for a total value of $2,426,893.56. Following the completion of the sale, the insider now directly owns 180,252 shares of the company’s stock, valued at $36,144,131.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Godfrey Sullivan sold 10,000 shares of CrowdStrike stock in a transaction 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 transaction, the director now owns 170,000 shares of the company’s stock, valued at $29,751,700. The disclosure for this sale can be found here. Corporate insiders own 6.82% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently added to or reduced their stakes in CRWD. Fairfield Bush & CO. bought a new stake in CrowdStrike during the first quarter worth about $654,000. MetLife Investment Management LLC bought a new stake in shares of CrowdStrike in the 1st quarter valued at about $2,930,000. Yousif Capital Management LLC lifted its stake in shares of CrowdStrike by 4.3% in the 1st quarter. Yousif Capital Management LLC now owns 2,934 shares of the company’s stock valued at $666,000 after acquiring an additional 120 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of CrowdStrike by 37.3% in the 1st quarter. Raymond James Trust N.A. now owns 2,830 shares of the company’s stock valued at $643,000 after acquiring an additional 769 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of CrowdStrike by 14.4% in the 1st quarter. Synovus Financial Corp now owns 2,930 shares of the company’s stock valued at $658,000 after acquiring an additional 369 shares during the last quarter. Institutional investors own 67.43% of the company’s stock.

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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