CrowdStrike Inc. (NASDAQ: $CRWD) is a major player in the cyber-security industry. Its solutions include threat intelligence, endpoint protection, antivirus software, ransomware protection, and endpoint response. The company launched in 2011 with a focus on cloud computing security.
CRWD stock has performed exceptionally well in 2023, having increased in value 86.25% year-to-date, better than the NASDAQ-100 Technology Sector index, which has gained 41.83% in the same period. Here is an in-depth review of the stock.
CrowdStrike Holdings Inc. Earnings Report
In its latest fiscal Q2 2024 earnings report, CrowdStrike Holdings Inc. reported a revenue of $731.63 million, representing a 37% increase compared to the same period last year. Subscription revenue rose 36% to $690 million, compared to $506.2 million in Q2 2023. Its EPS for the quarter was $0.74, better than the analysts’ prediction of $0.56, a surprise of 32.45%.
CrowdStrike also beat the analysts’ revenue estimates by 0.99%. CrowdStrike Holdings Inc. also raised its revenue guidance for fiscal Q3 2024 to $775.4 – $778.0 million and the full-year guidance to $3,030.7 – $3,042.9 million.
CrowdStrike (CRWD) Stock Performance
CRWD stock has performed quite well in 2023. The stock is up 86.25% year-to-date and is worth $192.36 per share at the close of trading on November 7, 2023. The stock had a great trading day on November 7, having grown 2.99%.
Stock Price and Revenue Forecast
Analysts give CrowStrike Holdings Inc. stock a strong buy rating due to its great past performance. The company’s average price target is $196.03, which is 1.91% based on the current price. They give CROWD stock a high price target of $235 and a low of $153.
In terms of EPS, analysts predict a range of $0.74-$0.80 in the upcoming earnings call. The stock has beaten EPS estimates 100% of the time in all previous quarters. That is better than its overall industry, which only beat EPS estimates 61.80% of the time.
Revenue in fiscal Q3 is predicted to be $773.73-$784 million. The company beat revenue estimates 100% of the time in the past four quarters. In the same period, the industry beat estimates 61.38% of the time.
Should You Buy CrowdStrike Holdings Inc. Stock
Despite the small upside predicted for CRWD stock, analysts give it a strong buy rating. That rating is due to the recent strong performance of the stock. Additionally, CrowdStrike has been posting great growth figures. It has also received numerous accolades recently, a testament to the quality of its products. For instance, it was recently named a leader in a recent IDC MarketScape report.
Based on recent numbers posted by the company, coupled with generally positive sentiment regarding CRWD stock, it looks like a great stock to add to your portfolio. However, always base your investment decision on a careful analysis of your risk appetite weighed against potential returns.
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