Shares of CrowdStrike (NASDAQ:CRWD) jumped in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.47, which beat analysts’ consensus estimate of $0.43 per share. Sales increased by 48% year-over-year, with revenue hitting $637.4 million. This beat analysts’ expectations of $625 million.
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CrowdStrike posted annual recurring revenue totals that were up 48% against this time last year, ultimately reaching $2.56 billion. Meanwhile, CrowdStrike also posted subscription gross margin figures that were actually down a hair against this time last year. The latest quarter saw a 75% subscription gross margin, while this time last year saw it at 76%.
Looking forward, management now expects revenue for Q1 2024 to be between $674.9 million to $678.2 million. For reference, analysts were expecting $663.3 million in revenue.
Overall, Wall Street has a consensus price target of $142.35 on CrowdStrike, implying 13.94% upside potential, as indicated by the graphic above.
