CrowdStrike Holdings, Inc. CRWD shares are trading higher Tuesday in sympathy with Datadog Inc. DDOG, after the company reported better-than-expected financial results and issued strong guidance.
The Details:
Shares of several cybersecurity companies, including CrowdStrike, are moving higher after Datadog reported better-than-expected third-quarter financial results before the market open on Tuesday.
Datadog reported earnings per share of 45 cents, beating the consensus estimate of 34 cents per share and revenue of $547.536 million which beat the estimate of $524.125 million.
Datadog issued fourth-quarter earnings guidance to between 42 cents and 44 cents per share and quarterly revenue to between $564 million and $568 million.
The company raised its full year 2023 earnings guidance to between $1.52 and $1.54 per share and revenue to between $2.103 billion and $2.107 billion.
Datadog shares are up more than 29% at $102.74 at the time of publication.
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CRWD Price Action: According to Benzinga Pro, shares are up nearly 4% at $194.15 at the time of publication.
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