What do analysts make of CRWD, KKR and GDDY stocks' prospects after being tapped for the S&P 500?
CrowdStrike will be joining the S&P 500 index. The stock could get a short-term boost as funds buy shares to duplicate the index.
Crowdstrike (NASDAQ: CRWD ) will enter the S&P 500 on June 21 after the index is rebalanced. The cybersecurity company is entering the index alongside KKR (NYSE: KKR ) and GoDaddy (NYSE: GDDY ) as part of the quarterly update.
Amid a Friday evening news dump, the S&P Dow Jones Indices announced that investment firm KKR & Co Inc (NYSE:KKR), cybersecurity platform CrowdStrike Holdings Inc (NASDAQ:CRWD), and domain marketplace GoDaddy Inc (NYSE:GDDY) will be joining the S&P 500 Index (SPX), effective June 24.
CRWD continues to report stellar financial earnings and performance metrics in FQ1'25, while moderately raising its FY2025 guidance. With NVDA endorsing the Falcon platform and AWS consolidating its cybersecurity protection with CRWD, the latter's prospects as a cybersecurity leader are further solidified. The S&P 500 inclusion is a boon as well, with institutional investors more likely to buy while improving its price premium.
CrowdStrike reported strong fiscal Q1 results as customers continue to add more of its modules. CrowdStrike's quarterly results were much better than most of its cybersecurity peers.
About 65% of CrowdStrike's customers subscribe to at least five of its security suites. Consistent profitability could make up for a slight slowdown in revenue growth.
CrowdStrike is still generating robust growth in a tough market. Zscaler's niche market is expanding, but it faces more headwinds.
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Cybersecurity company CrowdStrike Holdings Inc., private-equity giant KKR & Co. Inc. and web host GoDaddy Inc. are set to join the S&P 500 index at market open on June 24, index provider S&P Dow Jones Indices said late Friday.
CrowdStrike's latest earnings report easily beat Wall Street's expectations. It raised its full-year revenue and earnings guidance.