CrowdStrike (NASDAQ:CRWD) Issues FY 2023 Earnings Guidance

CrowdStrike (NASDAQ:CRWD – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $1.18-$1.22 for the period, compared to the consensus EPS estimate of $1.10. The company issued revenue guidance of $2.19 billion-$2.21 billion, compared to the consensus revenue estimate of $2.15 billion. CrowdStrike also updated its Q2 2023 guidance to $0.27-$0.28 EPS.

Several brokerages have weighed in on CRWD. Stephens began coverage on CrowdStrike in a report on Friday, June 3rd. They issued a buy rating and a $232.00 target price for the company. Stifel Nicolaus lowered their target price on CrowdStrike from $250.00 to $205.00 in a report on Friday, June 3rd. Oppenheimer lowered their target price on CrowdStrike from $300.00 to $250.00 and set an outperform rating for the company in a report on Friday, June 3rd. Cowen lowered their target price on CrowdStrike to $220.00 in a report on Friday, June 3rd. Finally, Barclays upped their target price on CrowdStrike from $182.00 to $200.00 and gave the stock an overweight rating in a report on Friday, June 3rd. Twenty-nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $251.38.

Shares of NASDAQ:CRWD opened at $165.71 on Thursday. The business’s 50-day moving average is $174.61 and its 200 day moving average is $187.11. CrowdStrike has a 1 year low of $130.00 and a 1 year high of $298.48. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.66.

CrowdStrike (NASDAQ:CRWD – Get Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $487.83 million for the quarter, compared to analyst estimates of $464.35 million. CrowdStrike had a negative return on equity of 14.50% and a negative net margin of 11.08%. The company’s revenue was up 61.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts predict that CrowdStrike will post -0.63 EPS for the current year.

In other news, insider Shawn Henry sold 20,839 shares of the stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $228.02, for a total value of $4,751,708.78. Following the transaction, the insider now directly owns 191,046 shares of the company’s stock, valued at $43,562,308.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 10,000 shares of the stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $235.09, for a total value of $2,350,900.00. Following the completion of the transaction, the chief financial officer now directly owns 321,215 shares in the company, valued at $75,514,434.35. The disclosure for this sale can be found here. Insiders sold 50,839 shares of company stock worth $11,540,409 over the last three months. Corporate insiders own 6.82% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CRWD. Fairfield Bush & CO. purchased a new stake in shares of CrowdStrike in the first quarter worth about $654,000. MetLife Investment Management LLC purchased a new stake in shares of CrowdStrike in the first quarter worth about $2,930,000. Yousif Capital Management LLC boosted its stake in shares of CrowdStrike by 4.3% in the first quarter. Yousif Capital Management LLC now owns 2,934 shares of the company’s stock worth $666,000 after buying an additional 120 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of CrowdStrike by 37.3% in the first quarter. Raymond James Trust N.A. now owns 2,830 shares of the company’s stock worth $643,000 after buying an additional 769 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of CrowdStrike by 14.4% in the first quarter. Synovus Financial Corp now owns 2,930 shares of the company’s stock worth $658,000 after buying an additional 369 shares during the last quarter. Hedge funds and other 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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