CrowdStrike (NASDAQ:CRWD) Releases Q2 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWD – Get Rating) issued an update on its second quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.27-$0.28 for the period, compared to the consensus estimate of $0.24. The company issued revenue guidance of $512.70 million-$516.80 million, compared to the consensus revenue estimate of $509.35 million.CrowdStrike also updated its FY 2023 guidance to $1.18-$1.22 EPS.

Shares of CrowdStrike stock opened at $178.84 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.83 and a quick ratio of 1.83. The company has a 50-day moving average of $186.49 and a 200 day moving average of $191.12. The firm has a market cap of $41.27 billion, a price-to-earnings ratio of -226.38 and a beta of 1.46. CrowdStrike has a 1 year low of $130.00 and a 1 year high of $298.48.

CrowdStrike (NASDAQ:CRWD – Get Rating) last released its quarterly earnings data on Thursday, June 2nd. The company reported $0.31 earnings per share 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 11.08% and a negative return on equity of 14.50%. CrowdStrike’s revenue was up 61.1% compared to the same quarter last year. During the same period last year, the business earned ($0.14) EPS. On average, equities analysts anticipate that CrowdStrike will post -0.61 EPS for the current year.

A number of research firms recently issued reports on CRWD. DA Davidson dropped their price objective on shares of CrowdStrike from $280.00 to $235.00 and set a buy rating on the stock in a report on Friday, June 3rd. Canaccord Genuity Group raised their price objective on shares of CrowdStrike from $225.00 to $238.00 and gave the stock a buy rating in a report on Thursday, March 10th. The Goldman Sachs Group raised shares of CrowdStrike from a neutral rating to a buy rating and raised their price objective for the stock from $241.00 to $285.00 in a report on Tuesday, April 12th. Piper Sandler dropped their price objective on shares of CrowdStrike from $250.00 to $230.00 and set an overweight rating on the stock in a report on Friday, June 3rd. Finally, Jefferies Financial Group raised their price objective on shares of CrowdStrike from $200.00 to $215.00 in a report on Friday, June 3rd. Thirty research analysts have rated the stock with a buy rating, According to MarketBeat.com, CrowdStrike presently has an average rating of Buy and an average target price of $249.63.

In related news, CFO Burt W. Podbere sold 13,282 shares of the 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Henry sold 20,000 shares of the 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. In the last 90 days, insiders have sold 170,458 shares of company stock worth $35,634,355. Corporate insiders own 6.82% of the company’s stock.

A number of large investors have recently modified their holdings of CRWD. Penserra Capital Management LLC boosted its position in CrowdStrike by 30.3% in the 4th quarter. Penserra Capital Management LLC now owns 899 shares of the company’s stock worth $184,000 after purchasing an additional 209 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of CrowdStrike during the 1st quarter valued at approximately $223,000. Sequoia Financial Advisors LLC purchased a new position in shares of CrowdStrike during the 1st quarter valued at approximately $287,000. Eudaimonia Partners LLC purchased a new position in shares of CrowdStrike during the 1st quarter valued at approximately $330,000. Finally, GM Advisory Group Inc. lifted its position in shares of CrowdStrike by 18.4% during the 1st quarter. GM Advisory Group Inc. now owns 1,522 shares of the company’s stock valued at $346,000 after buying an additional 237 shares in the last quarter. Institutional investors own 63.02% 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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