CrowdStrike (NASDAQ:CRWD) Updates FY23 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) issued an update on its FY23 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 $2.19-2.21 billion, compared to the consensus revenue estimate of $2.15 billion.CrowdStrike also updated its FY 2023 guidance to $1.18-$1.22 EPS.

NASDAQ CRWD traded up $12.57 during trading hours on Thursday, reaching $174.02. 8,413,116 shares of the company were exchanged, compared to its average volume of 5,089,396. CrowdStrike has a 1 year low of $130.00 and a 1 year high of $298.48. The business’s 50 day simple moving average is $191.58 and its 200-day simple moving average is $194.23. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $40.16 billion, a P/E ratio of -168.95 and a beta of 1.47.

CrowdStrike (NASDAQ:CRWDGet Rating) last posted its quarterly earnings data on Thursday, June 2nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. The business had revenue of $487.83 million during the quarter, compared to the consensus estimate of $464.35 million. CrowdStrike had a negative net margin of 16.17% and a negative return on equity of 15.87%. The firm’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, sell-side analysts anticipate that CrowdStrike will post -0.89 earnings per share for the current year.

Several research firms have recently weighed in on CRWD. JMP Securities reiterated a buy rating and issued a $275.00 target price on shares of CrowdStrike in a research note on Monday, April 11th. Mizuho reduced their price objective on shares of CrowdStrike from $270.00 to $220.00 and set a buy rating for the company in a research note on Wednesday, May 18th. Morgan Stanley reduced their price objective on shares of CrowdStrike from $212.00 to $181.00 and set an equal weight rating for the company in a research note on Thursday, May 19th. Stephens began coverage on shares of CrowdStrike in a research note on Wednesday, May 25th. They set an overweight rating and a $232.00 price objective for the company. Finally, DA Davidson reduced their price objective on shares of CrowdStrike from $265.00 to $250.00 in a research note on Thursday, March 10th. One analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average price target of $254.46.

In related news, CEO George Kurtz sold 75,801 shares of the company’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $200.92, for a total transaction of $15,229,936.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Burt W. Podbere sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 12th. The shares were sold at an average price of $235.09, for a total transaction of $2,350,900.00. Following the sale, the chief financial officer now owns 321,215 shares of the company’s stock, valued at $75,514,434.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 170,458 shares of company stock valued at $35,634,355. Company insiders own 6.82% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Sawtooth Solutions LLC purchased a new position in CrowdStrike during the 1st quarter valued at $354,000. EP Wealth Advisors LLC grew its position in shares of CrowdStrike by 9.1% in the 1st quarter. EP Wealth Advisors LLC now owns 2,399 shares of the company’s stock worth $545,000 after buying an additional 200 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of CrowdStrike by 379.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 27,256 shares of the company’s stock worth $6,145,000 after buying an additional 21,568 shares during the period. Capital Research Global Investors grew its position in shares of CrowdStrike by 8.3% in the 1st 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. Finally, Golden State Wealth Management LLC grew its position in shares of CrowdStrike by 24.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,651 shares of the company’s stock worth $301,000 after buying an additional 328 shares during the period. 63.02% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

Earnings History and Estimates for CrowdStrike (NASDAQ:CRWD)

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