CrowdStrike Stock Is Rising Today: What's Going On?

CrowdStrike Holdings Inc CRWD shares are trading higher. The company on Wednesday announced a collaboration with Accenture Plc ACN and a new distribution agreement with Dicker Data.

What Happened: CrowdStrike announced that it’s teaming up with Accenture to bring transformative improvements and cost efficiencies to security operations, continuous threat exposure management and AI workload protection.

The companies plan to enable real-time threat visibility, prevention and remediation by combining Accenture’s security services with the CrowdStrike Falcon cybersecurity platform.

Customer demand for Falcon platform adoption, cybersecurity consolidation, and SOC services expertise is driving our market-moving Accenture partnership,” said George Kurtz, founder and CEO, CrowdStrike.

“Accenture’s deep expertise with the Falcon platform and SIEM transformation have directly assisted organizations in upleveling their cybersecurity programs from device to cloud to datacenter.”

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CrowdStrike also announced a new distribution agreement with Dicker Data to bring the Falcon platform to customers across Australia and New Zealand. CrowdStrike noted that Dicker sought out CrowdStrike in response to rising demand in New Zealand.

“Dicker Data seeing the opportunity to further expand our ANZ channel ecosystem underscores our market position as cybersecurity’s generational platform. Together, we will accelerate CrowdStrike’s partner-first go-to-market strategy, unlocking greater opportunities for mid-market partners in the region,” said Jon Fox, vice president, channels and alliances, CrowdStrike Asia Pacific and Japan.

CrowdStrike reported fourth-quarter financial results last week, beating analyst estimates on the top and bottom lines. Annual recurring revenue increased 23% year-over-year to $4.24 billion after the company added $224.3 million of net new ARR in the quarter.

Despite the earnings beat, shares traded lower after the company issued soft guidance. CrowdStrike said it expects first-quarter revenue of $1.1 billion to $1.106 billion versus estimates of $1.106 billion. The company anticipates first-quarter adjusted earnings of 64 cents to 66 cents per share versus estimates of 95 cents per share. CrowdStrike will report quarterly results again at the beginning of June.

CRWD Price Action: CrowdStrike shares were up 3.66% at $341.81 at the time of publication Wednesday, according to Benzinga Pro.

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