CrowdStrike (NASDAQ:CRWD) Releases FY23 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.18-1.22 for the period, compared to the consensus estimate of $1.10. The company issued revenue guidance of $2.19-2.21 billion, compared to the consensus revenue estimate of $2.15 billion.CrowdStrike also updated its FY 2023 guidance to $1.18-$1.22 EPS.

Shares of CrowdStrike stock traded up $12.57 during 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 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 1-year low of $130.00 and a 1-year high of $298.48. The company has a 50 day moving average price of $191.58 and a 200-day moving average price of $194.23. The firm has a market capitalization of $40.16 billion, a PE ratio of -168.95 and a beta of 1.47.

CrowdStrike (NASDAQ:CRWDGet Rating) last announced its quarterly earnings results on Thursday, June 2nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $487.83 million during the quarter, compared to analyst estimates of $464.35 million. CrowdStrike had a negative net margin of 16.17% and a negative return on equity of 15.87%. CrowdStrike’s quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. Equities research analysts expect that CrowdStrike will post -0.89 earnings per share for the current year.

CRWD has been the subject of a number of recent research reports. Jefferies Financial Group decreased their price target on shares of CrowdStrike from $275.00 to $200.00 in a research note on Monday, May 23rd. Robert W. Baird upped their target price on shares of CrowdStrike from $225.00 to $275.00 and gave the stock an outperform rating in a research note on Friday, April 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of CrowdStrike from $240.00 to $270.00 and gave the stock a buy rating in a research note on Friday, April 8th. Stephens began coverage on shares of CrowdStrike in a research note on Wednesday, May 25th. They issued an overweight rating and a $232.00 target price for the company. Finally, Zacks Investment Research upgraded shares of CrowdStrike from a hold rating to a buy rating and set a $199.00 target price for the company in a research note on Wednesday, February 16th. One equities research analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $254.46.

In related news, CFO Burt W. Podbere sold 13,282 shares of the company’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $200.42, for a total value of $2,661,978.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shawn Henry sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $203.04, for a total transaction of $4,060,800.00. 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. Insiders own 6.82% of the company’s stock.

Several hedge funds have recently bought and sold shares of CRWD. Morgan Stanley grew its position in CrowdStrike by 223.3% during the second quarter. Morgan Stanley now owns 4,563,798 shares of the company’s stock valued at $1,146,928,000 after acquiring an additional 3,152,219 shares during the last quarter. Privium Fund Management UK Ltd bought a new position in CrowdStrike during the fourth quarter valued at approximately $9,658,000. Flagship Harbor Advisors LLC grew its position in CrowdStrike by 30.4% during the fourth quarter. Flagship Harbor Advisors LLC now owns 4,096 shares of the company’s stock valued at $839,000 after acquiring an additional 956 shares during the last quarter. Barclays PLC grew its position in CrowdStrike by 21.7% during the fourth quarter. Barclays PLC now owns 727,619 shares of the company’s stock valued at $148,979,000 after acquiring an additional 129,722 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in CrowdStrike by 1,210.0% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 13,100 shares of the company’s stock valued at $2,682,000 after acquiring an additional 12,100 shares during the last quarter. Institutional investors own 63.02% of the company’s stock.

About CrowdStrike (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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