CrowdStrike Analysts Increase Their Forecasts After Upbeat Earnings
Portfolio Pulse from Lisa Levin
CrowdStrike Holdings Inc (NASDAQ:CRWD) reported Q3 earnings that surpassed expectations with a 35% year-over-year revenue increase to $786 million, beating estimates of $777.13 million. Earnings per share were 82 cents, exceeding the forecast of 74 cents. The company expects Q4 earnings of 81-82 cents per share, above estimates of 78 cents, and full-year earnings of $2.95-$2.96 per share, compared to the expected $2.83. Following the earnings release, analysts raised their price targets on CRWD, with the stock rising 2.1% in pre-market trading.
November 29, 2023 | 12:24 pm
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POSITIVE IMPACT
CrowdStrike's strong Q3 earnings and raised guidance could lead to a positive short-term impact on its stock price, as analysts have increased their price targets.
CrowdStrike's earnings beat and raised future earnings guidance are significant positive indicators for investors, often leading to increased investor confidence and a rise in stock price. The pre-market gain and analyst upgrades further support a positive short-term outlook.
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IMPORTANCE 90
RELEVANCE 100