CrowdStrike Gets Price Targets Cut By Analysts Following Q3 Results

CrowdStrike Holdings Inc CRWD reported better-than-expected financial results and issued strong earnings guidance.

CrowdStrike said revenue jumped 53% year-over-year to $581 million, which beat analysts’ estimates of $573.82 million. Its adjusted earnings came in at 40 cents per share, which beat expectations of 31 cents per share.

CrowdStrike said full-year earnings are projected to be in a range of $1.49 to $1.52 per share versus market estimates of $1.32 per share. Full-year revenue is expected to be between $2.223 billion and $2.232 billion, versus market estimates of $2.23 billion.

CrowdStrike sees fourth-quarter revenue between $619.1 million and $628.2 million versus estimates of $632.84 million.

CrowdStrike shares dipped 17.8% to trade at $113.35 on Wednesday.

These analysts made changes to their price targets on CrowdStrike following the release of quarterly results.

• Barclays cut the price target on the stock from $180 to $155. Barclays analyst Saket Kalia maintained an Overweight rating on the stock.
• Jefferies slashed CrowdStrike price target from $220 to $175. Jefferies analyst Joseph Gallo maintained a Buy rating on the stock.
• Stifel cut the price target on CrowdStrike from $225 to $120. Stifel analyst Brad Reback downgraded the stock from Buy to Hold.
• Piper Sandler reduced the price target on CrowdStrike from $240 to $175. Piper Sandler analyst Rob Owens maintained the stock with an Overweight.
• Needham cut the price target on CrowdStrike from $225 to $165. Needham analyst Alex Henderson maintained the stock with a Buy.
• BTIG slashed the price target on CrowdStrike from $234 to $148. BTIG analyst Gray Powell maintained the stock with a Buy.
• JMP Securities cut the price target on CrowdStrike from $275 to $235. JMP Securities analyst Trevor Walsh maintained a Market Outperform rating on the stock.
• Mizuho lowered the CrowdStrike price target from $205 to $175. Mizuho analyst Gregg Moskowitz maintained a Buy rating on the stock.
• Stephens & Co. reduced CrowdStrike price target from $205 to $161. Stephens & Co. analyst Brian Colley maintained the stock with an Overweight rating.
• Truist Securities lowered the price target from $275 to $200. Truist Securities analyst Joel Fishbein maintained the stock with a Buy.
• Baird cut the price target on the stock from $237 to $185. Baird analyst Shrenik Kothari maintained the stock with an Outperform.
• RBC Capital slashed the price target on the stock from $200 to $165. RBC Capital analyst Matthew Hedberg maintained the stock with an Outperform.
• Morgan Stanley lowered the price target from $190 to $172. Morgan Stanley analyst Hamza Fodderwala maintained CrowdStrike with an Overweight.
• Wells Fargo cut the price target from $210 to $165. Wells Fargo analyst Andrew Nowinski maintained the stock with an Overweight.