CrowdStrike Analysts Boost Their Forecasts Following Strong Earnings
Portfolio Pulse from Avi Kapoor
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) reported better-than-expected Q4 earnings and revenues, with a 33% year-over-year increase to $845.34 million, surpassing estimates. The company also provided positive guidance for FY25, expecting revenues between $3.925 billion and $3.989 billion, and earnings per share in the range of $3.77 to $3.97. Despite the strong performance and upbeat forecasts, CrowdStrike shares fell 5.2% to close at $297.56. Analysts from Canaccord Genuity, Guggenheim, Wells Fargo, and Jefferies raised their price targets on CRWD following the report.
March 06, 2024 | 12:09 pm
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NEGATIVE IMPACT
CrowdStrike reported strong Q4 earnings and revenue, with positive FY25 guidance. Shares fell 5.2% despite the upbeat report. Analysts raised price targets significantly.
The short-term negative impact on CRWD's stock price, despite better-than-expected earnings and revenue reports, could be due to market reactions to other external factors or profit-taking by investors after the announcement. The significant increase in price targets by analysts suggests a strong belief in the company's long-term growth potential, which might not immediately reflect in the stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100