CrowdStrike (NASDAQ:CRWD) Issues FY 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. 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.

CrowdStrike Price Performance

Shares of CrowdStrike stock traded down $1.34 during trading hours on Friday, reaching $159.94. The stock had a trading volume of 73,976 shares, compared to its average volume of 4,113,137. The firm has a market capitalization of $37.33 billion, a PE ratio of -210.13 and a beta of 1.27. The stock’s 50 day moving average is $185.18 and its 200 day moving average is $185.74. 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 has a twelve month low of $130.00 and a twelve month high of $298.48.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on CRWD shares. Stephens started coverage on shares of CrowdStrike in a report on Wednesday, August 31st. They issued an overweight rating and a $236.00 price objective on the stock. BTIG Research reduced their target price on shares of CrowdStrike from $257.00 to $234.00 and set a buy rating on the stock in a report on Friday, June 3rd. Cowen restated a buy rating and issued a $220.00 target price on shares of CrowdStrike in a research note on Wednesday. Wells Fargo & Company reduced their target price on shares of CrowdStrike from $275.00 to $250.00 and set an overweight rating for the company in a research note on Friday, June 3rd. Finally, JMP Securities reiterated a buy rating and issued a $275.00 price objective on shares of CrowdStrike in a research note on Friday, June 3rd. One investment analyst has rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat, CrowdStrike currently has a consensus rating of Moderate Buy and an average price target of $241.71.

Insider Activity at CrowdStrike

In other CrowdStrike news, Director Godfrey Sullivan sold 10,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $175.01, for a total transaction of $1,750,100.00. Following the transaction, the director now directly owns 170,000 shares of the company’s stock, valued at $29,751,700. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Shawn Henry sold 12,103 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $200.52, for a total transaction of $2,426,893.56. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director Godfrey Sullivan sold 10,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $175.01, for a total transaction of $1,750,100.00. Following the transaction, the director now directly owns 170,000 shares in the company, valued at $29,751,700. The disclosure for this sale can be found here. 6.82% of the stock is owned by insiders.

Institutional Trading of CrowdStrike

Several institutional investors have recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. raised its holdings in CrowdStrike by 6.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,373 shares of the company’s stock valued at $737,000 after acquiring an additional 280 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in CrowdStrike during the second quarter valued at $780,000. Prudential Financial Inc. increased its stake in CrowdStrike by 221.7% during the second quarter. Prudential Financial Inc. now owns 104,916 shares of the company’s stock valued at $16,881,000 after purchasing an additional 72,301 shares during the last quarter. Sawtooth Solutions LLC bought a new stake in CrowdStrike during the first quarter valued at $354,000. Finally, EP Wealth Advisors LLC increased its stake in CrowdStrike by 9.1% during the first quarter. EP Wealth Advisors LLC now owns 2,399 shares of the company’s stock valued at $545,000 after purchasing an additional 200 shares during the last quarter. 67.43% of the stock is 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.

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Earnings History and Estimates for CrowdStrike (NASDAQ:CRWD)

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