TECH - CrowdStrike A 'Long-Term Winner'? 5 Analysts Look At Q2 Print For Answers | Benzinga
CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading nearly 10% higher Thursday after the company issued its second-quarter earnings results.
Here’s what you need to know and what analysts think about the print.
By The Numbers: CrowdStrike reported second-quarter revenues of $731.63 million, which is a 37% increase year-over-year. Revenues came ahead of the $724.13 million analyst estimate, according to Benzinga Pro. The company reported quarterly earnings of 74 cents per share, which beat the 56-cent analyst estimate. Read more on the print here.
The Stifel Analyst: Brad Reback maintained a Hold rating on the stock and raised its price target to $153 from $128.
Reback said CrowdStrike posted a top-line beat but with a slimmer margin than recent trends. While expressing concern over the decelerating growth rate and increasingly challenging competitive environment, the analyst acknowledged the company’s unique position as a disruptor in the endpoint security market.
Despite the caveats, Reback saw growth opportunities for the company but believed its forecast for Net New ARR ...