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CrowdStrike Holdings (NASDAQ:CRWD) Slips despite Earnings Beat
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CrowdStrike Holdings (NASDAQ:CRWD) Slips despite Earnings Beat

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Shares of CrowdStrike fell in after-hours trading despite posting earnings results that exceeded analysts’ expectations.

Shares of cybersecurity company CrowdStrike (NASDAQ:CRWD) slipped in Tuesday’s after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2024. Earnings per share came in at $0.82, which beat analysts’ consensus estimate of $0.74 per share.

Sales increased by 35.3% year-over-year, with revenue hitting $786 million. This beat analysts’ expectations by $8.62 million.

During the quarter, annual recurring revenue (ARR) increased 35% year-over-year to $3.15 billion as of October 31, 2023. According to the report, $223 million worth of ARR was added in the quarter.

Looking forward, management now expects revenue and adjusted earnings per share for Q4 2024 to be in the ranges of $836.6M to $840M and $0.81 to $0.82, respectively.

For the full year, the company predicts revenue of $3.047B to $3.05B versus the consensus estimate of $3.04B. Furthermore, CrowdStrike expects EPS to land between $2.95 and $2.96, higher than analysts’ expectations of $2.83.

What is CRWD’s Price Target?

With 32 Buys and one Hold, CRWD stock commands a Strong Buy consensus rating on TipRanks. After a 52.46% rally in its share price this year, the average CRWD price target of $209.09 per share implies -1.59% downside potential. 

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