CrowdStrike (NASDAQ:CRWD) Updates Q2 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWDGet Rating) updated its second quarter 2023 earnings guidance on Thursday. The company provided EPS guidance of $0.27-$0.28 for the period, compared to the consensus EPS 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.

A number of equities analysts have recently weighed in on the stock. Barclays upped their price target on shares of CrowdStrike from $182.00 to $200.00 and gave the stock an overweight rating in a research note on Friday, June 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CrowdStrike from $270.00 to $225.00 in a research note on Friday, June 3rd. DA Davidson dropped their price target on shares of CrowdStrike from $280.00 to $235.00 and set a buy rating on the stock in a research note on Friday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of CrowdStrike from $255.00 to $288.00 in a research report on Thursday, March 10th. Finally, Oppenheimer lowered their target price on shares of CrowdStrike from $300.00 to $250.00 and set an outperform rating on the stock in a research report on Friday, June 3rd. Twenty-nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $251.38.

Shares of NASDAQ CRWD traded up $9.22 during midday trading on Thursday, reaching $174.93. 135,609 shares of the stock were exchanged, compared to its average volume of 4,549,881. The business has a 50-day simple moving average of $174.61 and a two-hundred day simple moving average of $187.11. The company has a market capitalization of $40.60 billion, a price-to-earnings ratio of -220.85 and a beta of 1.46. CrowdStrike has a 12 month low of $130.00 and a 12 month high of $298.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.83 and a quick ratio of 1.83.

CrowdStrike (NASDAQ:CRWDGet Rating) last announced its quarterly earnings results on Thursday, June 2nd. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $487.83 million for the quarter, compared to analysts’ expectations of $464.35 million. CrowdStrike had a negative net margin of 11.08% and a negative return on equity of 14.50%. The business’s quarterly revenue was up 61.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. Equities research analysts expect that CrowdStrike will post -0.63 earnings per share for the current fiscal year.

In other CrowdStrike news, insider Shawn Henry sold 20,839 shares of CrowdStrike stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $228.02, for a total value of $4,751,708.78. Following the sale, the insider now directly owns 191,046 shares in the company, valued at approximately $43,562,308.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Burt W. Podbere sold 10,000 shares of CrowdStrike 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 completion of the sale, the chief financial officer now owns 321,215 shares in the company, valued at $75,514,434.35. The disclosure for this sale can be found here. Insiders sold a total of 50,839 shares of company stock worth $11,540,409 over the last ninety days. 6.82% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC acquired a new position in shares of CrowdStrike during the 1st quarter worth about $223,000. Sequoia Financial Advisors LLC acquired a new position in shares of CrowdStrike during the 1st quarter worth about $287,000. Eudaimonia Partners LLC acquired a new position in CrowdStrike in the 1st quarter valued at about $330,000. GM Advisory Group Inc. grew its stake in CrowdStrike by 18.4% in 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 during the last quarter. Finally, Sawtooth Solutions LLC acquired a new position in CrowdStrike in the 1st quarter valued at about $354,000. 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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Earnings History and Estimates for CrowdStrike (NASDAQ:CRWD)

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