CrowdStrike Analysts Increase Their Forecasts After Upbeat Earnings

CrowdStrike Holdings Inc CRWD posted better-than-expected earnings for its third quarter.

CrowdStrike said third-quarter revenue increased 35% year-over-year to $786 million, which beat the consensus estimate of $777.13 million, according to Benzinga Pro. The cybersecurity company reported quarterly earnings of 82 cents per share, which beat analyst estimates of 74 cents per share.

The company anticipates fourth-quarter earnings of 81 cents to 82 cents per share versus estimates of 78 cents per share. It sees full-year earnings in the range of $2.95 to $2.96 per share versus estimates of $2.83 per share.

CrowdStrike shares gained 2.1% to $216.80 in pre-market trading.

These analysts made changes to their price targets on CrowdStrike following earnings announcement.

• Keybanc increased the price target on CrowdStrike from $240 to $245. Keybanc analyst Eric Heath maintained an Overweight rating.
• Barclays boosted the price target on CrowdStrike from $225 to $240. Barclays analyst Saket Kalia maintained an Overweight rating.
• Needham raised the price target on CrowdStrike from $245 to $250. Needham analyst Alex Henderson maintained a Buy rating.
• Rosenblatt increased the price target on CrowdStrike from $200 to $245. Rosenblatt analyst Catharine Trebnick maintained a Buy rating.
• JP Morgan raised the price target on CrowdStrike from $210 to $230. JP Morgan analyst Brian Essex maintained an Overweight rating.

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