Why CrowdStrike Stock Is Moving Today

CrowdStrike Holdings Inc CRWD shares are trading lower Friday after the company reported financial results.

CrowdStrike said fiscal first-quarter revenue increased 61% year-over-year to $487.8 million, which beat the estimate of $463.27 million, according to data from Benzinga Pro. The cybersecurity company reported quarterly earnings of 31 cents per share, which beat the estimate of 23 cents per share.

CrowdStrike expects fiscal second-quarter revenue to be between $512.7 million and $516.8 million versus the estimate of $509.35 million. The company expects quarterly earnings of 27 to 28 cents per share versus the estimate of 24 cents per share.

CrowdStrike raised its full-year guidance to a range of $2.19 billion to $2.2 billion versus the estimate of $2.15 billion. The company raised its full-year earnings guidance to a range of $1.18 to $1.22 per share versus the estimate of $1.10 per share.

Analyst Assessment:

• Piper Sandler analyst Rob Owens maintained CrowdStrike with an Overweight rating and lowered the price target from $250 to $230.
• Barclays analyst Saket Kalia maintained CrowdStrike with an Overweight rating and raised the price target from $182 to $200.
• Wells Fargo analyst Andrew Nowinski maintained CrowdStrike with an Overweight rating and lowered the price target from $275 to $250.
• Morgan Stanley analyst Hamza Fodderwala maintained CrowdStrike with an Equal-Weight rating and raised the price target from $181 to $195.
• RBC Capital analyst Matthew Hedberg maintained CrowdStrike with an Outperform rating and raised the price target from $225 to $232.

See Also: Morning Brief: Top Financial Stories Dominating on Friday, June 3

CRWD Price Action: CrowdStrike has traded between $130 and $298.48 over a 52-week period.

The stock was down 4.32% at $166.45 at press time.

Photo: courtesy of CrowdStrike.