What's Up With CrowdStrike Stock Today?

CrowdStrike Holdings Inc CRWD is trading lower Friday despite announcing better-than-expected financial results.

What Happened: CrowdStrike reported first-quarter earnings of 10 cents per share, which beat the estimate of 6 cents per share. The company reported quarterly revenue of $302.8 million, which beat the estimate of $291.46 million. 

“CrowdStrike kicked off the new fiscal year with strong momentum and delivered outstanding first quarter results that exceeded our expectations. We saw strength in multiple areas of the business, added $144 million in net new ARR in the quarter and grew ending ARR 74% year-over-year to exceed $1.19 billion," said George Kurtz, CEO of CrowdStrike. 

Related Link: Recap: CrowdStrike Holdings Q1 Earnings

Analyst Assessment: Multiple analyst firms raised the price targets on the cybersecurity company:

• Needham analyst Alex Henderson maintained CrowdStrike with a Buy rating and raised the price target from $275 to $277.
• RBC Capital analyst Matthew Hedberg maintained CrowdStrike with an Outperform rating and raised the price target from $250 to $259.
• JP Morgan analyst Sterling Auty maintained CrowdStrike with a Neutral rating and raised the price target from $210 to $220.
• Mizuho analyst Gregg Moskowitz maintained CrowdStrike with a Buy rating and raised the price target from $250 to $255.

Price Action: CrowdStrike has traded as high as $251.28 and as low as $88.87 over a 52-week period.

At last check Friday, the stock was down 3.37% at $208.73.

Image by Pete Linforth from Pixabay