CrowdStrike (NASDAQ:CRWD) Issues 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 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.

CRWD opened at $165.71 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.83 and a current ratio of 1.83. CrowdStrike has a 1-year low of $130.00 and a 1-year high of $298.48. The firm has a 50-day moving average price of $174.61 and a two-hundred day moving average price of $187.11.

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

Several brokerages have recently commented on CRWD. Cowen lowered their price target on shares of CrowdStrike to $220.00 in a research report on Friday, June 3rd. DA Davidson lowered their price target on shares of CrowdStrike from $280.00 to $235.00 and set a buy rating for the company in a research report on Friday, June 3rd. Oppenheimer lowered their price target on shares of CrowdStrike from $300.00 to $250.00 and set an outperform rating for the company in a research report on Friday, June 3rd. Barclays boosted their price objective on shares of CrowdStrike from $182.00 to $200.00 and gave the company an overweight rating in a report on Friday, June 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CrowdStrike from $255.00 to $288.00 in a report on Thursday, March 10th. Twenty-nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $251.38.

In related news, CFO Burt W. Podbere sold 10,000 shares of the business’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 transaction, the chief financial officer now directly owns 321,215 shares in the company, valued at $75,514,434.35. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Shawn Henry sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $221.89, for a total transaction of $4,437,800.00. Following the completion of the transaction, the insider now owns 186,895 shares in the company, valued at $41,470,131.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,839 shares of company stock worth $11,540,409. 6.82% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in CRWD. Fairfield Bush & CO. acquired a new position in shares of CrowdStrike in the first quarter valued at $654,000. MetLife Investment Management LLC acquired a new position in shares of CrowdStrike in the first quarter valued at about $2,930,000. Yousif Capital Management LLC grew 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 valued at $666,000 after acquiring an additional 120 shares in the last quarter. Raymond James Trust N.A. grew 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 valued at $643,000 after acquiring an additional 769 shares in the last quarter. Finally, Synovus Financial Corp grew 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 valued at $658,000 after acquiring an additional 369 shares in 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.

See Also