CrowdStrike (NASDAQ:CRWD) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

CrowdStrike (NASDAQ:CRWD) released its quarterly earnings results on Tuesday. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02, FiscalAI reports. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. CrowdStrike had a negative return on equity of 1.53% and a negative net margin of 6.84%.

CrowdStrike Stock Up 2.5%

Shares of CrowdStrike stock traded up $12.42 during trading on Tuesday, reaching $516.55. The company had a trading volume of 4,349,279 shares, compared to its average volume of 3,415,285. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.88 and a current ratio of 1.88. CrowdStrike has a fifty-two week low of $298.00 and a fifty-two week high of $566.90. The firm’s fifty day moving average is $511.99 and its 200-day moving average is $477.91. The company has a market cap of $129.63 billion, a price-to-earnings ratio of -434.07, a price-to-earnings-growth ratio of 120.02 and a beta of 1.09.

Wall Street Analysts Forecast Growth

CRWD has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of CrowdStrike from $500.00 to $580.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Jefferies Financial Group raised their price target on shares of CrowdStrike from $515.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. DZ Bank lowered shares of CrowdStrike from a “hold” rating to a “sell” rating and set a $440.00 price objective on the stock. in a report on Wednesday, September 24th. DA Davidson upped their price objective on shares of CrowdStrike from $515.00 to $580.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Finally, Guggenheim restated a “neutral” rating on shares of CrowdStrike in a research note on Monday, November 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $549.89.

Insider Transactions at CrowdStrike

In other news, President Michael Sentonas sold 10,000 shares of CrowdStrike stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $515.00, for a total value of $5,150,000.00. Following the completion of the transaction, the president owned 354,116 shares in the company, valued at approximately $182,369,740. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurtz sold 6,975 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $549.89, for a total value of $3,835,482.75. Following the completion of the sale, the chief executive officer owned 2,108,082 shares of the company’s stock, valued at $1,159,213,210.98. This trade represents a 0.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 116,622 shares of company stock valued at $58,561,456 over the last 90 days. Corporate insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company’s stock valued at $2,670,000 after buying an additional 2,417 shares during the period. Empowered Funds LLC raised its stake in CrowdStrike by 3.6% during the first quarter. Empowered Funds LLC now owns 4,812 shares of the company’s stock worth $1,697,000 after acquiring an additional 169 shares during the period. Sei Investments Co. lifted its holdings in CrowdStrike by 4.2% in the second quarter. Sei Investments Co. now owns 110,137 shares of the company’s stock worth $56,098,000 after acquiring an additional 4,438 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in CrowdStrike by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 168,804 shares of the company’s stock valued at $85,974,000 after acquiring an additional 2,356 shares during the period. Finally, Glenview Trust co grew its holdings in shares of CrowdStrike by 50.3% during the second quarter. Glenview Trust co now owns 1,055 shares of the company’s stock valued at $537,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.