CrowdStrike (NASDAQ:CRWD) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

CrowdStrike (NASDAQ:CRWD) released its earnings results on Wednesday. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07, Briefing.com reports. The firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 earnings per share.

CrowdStrike Price Performance

CRWD traded up $5.09 during trading on Friday, hitting $276.76. 3,086,697 shares of the company traded hands, compared to its average volume of 5,417,099. The stock’s 50-day simple moving average is $306.15 and its two-hundred day simple moving average is $318.83. CrowdStrike has a 1 year low of $145.38 and a 1 year high of $398.33. The company has a market cap of $67.35 billion, a PE ratio of 526.66, a P/E/G ratio of 11.79 and a beta of 1.10. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

Insider Activity at CrowdStrike

In related news, Director Roxanne S. Austin sold 10,000 shares of CrowdStrike stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the transaction, the director now directly owns 18,297 shares of the company’s stock, valued at approximately $7,136,012.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the sale, the director now directly owns 18,297 shares in the company, valued at approximately $7,136,012.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurtz sold 55,587 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $376.45, for a total value of $20,925,726.15. Following the completion of the sale, the chief executive officer now owns 1,127,843 shares of the company’s stock, valued at $424,576,497.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,219 shares of company stock valued at $48,856,294. 4.34% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of CrowdStrike during the fourth quarter worth $683,336,000. Pathstone Holdings LLC acquired a new position in CrowdStrike in the 4th quarter valued at $450,418,000. Vanguard Group Inc. boosted its holdings in CrowdStrike by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after acquiring an additional 564,662 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of CrowdStrike by 619.0% in the 1st quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock valued at $177,865,000 after purchasing an additional 477,706 shares in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CRWD shares. Scotiabank lowered their price objective on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. BMO Capital Markets upped their price objective on shares of CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup lowered their price objective on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Evercore ISI cut their target price on CrowdStrike from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.46.

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.