CrowdStrike (NASDAQ:CRWD) Issues FY 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided EPS guidance of $1.18-$1.22 for the period, compared to the consensus EPS 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.

Several equities research analysts recently commented on the company. DA Davidson reduced their price objective on CrowdStrike from $265.00 to $250.00 in a report on Thursday, March 10th. Mizuho reduced their price objective on CrowdStrike from $270.00 to $220.00 and set a buy rating for the company in a report on Wednesday, May 18th. Morgan Stanley reduced their price objective on CrowdStrike from $212.00 to $181.00 and set an equal weight rating for the company in a report on Thursday, May 19th. Zacks Investment Research upgraded CrowdStrike from a hold rating to a buy rating and set a $199.00 price objective for the company in a report on Wednesday, February 16th. Finally, Jefferies Financial Group reduced their price objective on CrowdStrike from $275.00 to $200.00 in a report on Monday, May 23rd. One equities research analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Based on data from MarketBeat, CrowdStrike presently has a consensus rating of Buy and a consensus price target of $254.46.

Shares of NASDAQ:CRWD traded up $12.57 during mid-day trading on Thursday, reaching $174.02. 8,413,116 shares of the company traded hands, compared to its average volume of 5,089,396. The company’s 50 day moving average price is $191.58 and its 200-day moving average price is $194.23. The firm has a market cap of $40.16 billion, a PE ratio of -168.95 and a beta of 1.47. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.83 and a quick ratio of 1.83. CrowdStrike has a 52 week low of $130.00 and a 52 week high of $298.48.

CrowdStrike (NASDAQ:CRWDGet Rating) last posted its quarterly earnings results on Wednesday, March 9th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. CrowdStrike had a negative return on equity of 15.87% and a negative net margin of 16.17%. The company had revenue of $431.01 million for the quarter, compared to analysts’ expectations of $412.38 million. During the same period in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 62.7% compared to the same quarter last year. On average, research analysts predict that CrowdStrike will post -0.89 earnings per share for the current fiscal year.

In other news, insider Shawn Henry sold 20,839 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $228.02, for a total transaction of $4,751,708.78. Following the sale, the insider now directly owns 191,046 shares of the company’s stock, valued at approximately $43,562,308.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Burt W. Podbere sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 321,215 shares in the company, valued at $75,514,434.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,458 shares of company stock worth $35,634,355. 6.82% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CRWD. Morgan Stanley raised its holdings in shares of CrowdStrike by 223.3% during the 2nd quarter. Morgan Stanley now owns 4,563,798 shares of the company’s stock worth $1,146,928,000 after acquiring an additional 3,152,219 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of CrowdStrike by 69.3% during the 1st quarter. Clearbridge Investments LLC now owns 2,310,859 shares of the company’s stock worth $524,750,000 after acquiring an additional 945,703 shares in the last quarter. Invesco Ltd. raised its holdings in CrowdStrike by 30.9% during the 1st quarter. Invesco Ltd. now owns 1,379,621 shares of the company’s stock valued at $313,284,000 after buying an additional 325,846 shares during the period. Vanguard Group Inc. raised its holdings in CrowdStrike by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 12,547,900 shares of the company’s stock valued at $2,849,377,000 after buying an additional 244,613 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in CrowdStrike by 110.5% during the 1st quarter. Renaissance Technologies LLC now owns 382,200 shares of the company’s stock valued at $86,790,000 after buying an additional 200,600 shares during the period. 63.02% of the stock is currently 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.

Further Reading

Earnings History and Estimates for CrowdStrike (NASDAQ:CRWD)

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