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.
Nvidia continues to dominate the spotlight when it comes to artificial intelligence, thanks to the incredible gains for its stock. But the AI industry is expanding rapidly, and opportunities exist outside of Nvidia and the chip space.
Many people are looking for stocks to buy, driven by just one thing: fear. Whether it is the fear of losing it all or the fear of missing out (FOMO), investors tend to run in packs.
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.
The S&P Dow Jones Indices said on Friday that private equity firm KKR & Co , cybersecurity company CrowdStrike and internet services provider GoDaddy will join the benchmark S&P 500 before markets open on June 24.
CrowdStrike, KKR and GoDaddy will join the index before the open on June 24, as part of the quarterly rebalance.
We also dig into Arista's role in the AI race and what's next for the cloud-based networking company.