CrowdStrike's Q2 results show the benefits of strong adoption of the Falcon platform. However, the stock is likely to be weighed down by lowered FY25 guidance.
Cybersecurity stocks for your September 2024 watchlist.
I am downgrading CrowdStrike stock from a "buy" to a "hold" as I believe the stock provides little margin of safety as the management slashes its FY25 revenue and earnings guidance. Although the company beat on both revenue and earnings in Q2 with strong product adoption rates, management warned of elongated sales cycles since the July 19th global outage event. With management expecting headwinds to Net New ARR and renewal rates, it also did not provide its customer count for $100K+ ARR, which is concerning.
Buying best-in-class stocks is never cheap, and CrowdStrike stock is no exception.
NEW YORK, NY / ACCESSWIRE / August 29, 2024 / If you suffered a loss on your CrowdStrike Holdings, Inc. (NASDAQ:CRWD) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK CITY, NY / ACCESSWIRE / August 29, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against CrowdStrike Holdings, Inc. ("CrowdStrike" or "the Company") (NASDAQ:CRWD) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired CrowdStrike securities between November 29, 2023, and July 29, 2024, inclusive (the "Class Period").
CrowdStrike's guidance revision and profitability concerns lead me to downgrade the stock, favoring SentinelOne for its faster growth and better risk-reward profile. Despite strong Q2 results, a significant IT outage and competitive pressures have impacted CrowdStrike's near-term sales and growth prospects. CrowdStrike's revised revenue growth rate of 28% y/y and high valuation at 49x forward non-GAAP income make it less compelling.
Cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD) has reduced its revenue and profit forecasts following a global outage in July caused by a faulty software update. Affecting internet services for 8.5 million Microsoft Windows devices, it led to widespread flight cancellations, while many organisations and businesses were also hit.
NEW YORK, NY / ACCESSWIRE / August 29, 2024 / If you suffered a loss on your CrowdStrike Holdings, Inc. (NASDAQ:CRWD) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / August 28, 2024 / If you suffered a loss on your CrowdStrike Holdings, Inc. (NASDAQ:CRWD) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / August 28, 2024 / If you suffered a loss on your CrowdStrike Holdings, Inc. (NASDAQ:CRWD) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD ) Q2 2025 Earnings Conference Call August 28, 2024 5:00 PM ET Company Participants Maria Riley - VP, IR George Kurtz - President, CEO & Co-Founder Burt Podbere - CFO Conference Call Participants Hamza Fodderwala - Morgan Stanley Brian Essex - JPMorgan Saket Kalia - Barclays Tal Liani - Bank of America Joel Fishbein - Truist Gabriela Borges - Goldman Sachs Rob Owens - Piper Sandler Matthew Hedberg - RBC Capital Markets Fatima Boolani - Citi Andrew Nowinski - Wells Fargo Roger Boyd - UBS Joseph Gallo - Jefferies Gregg Moskowitz - Mizuho Operator Hello, and welcome to CrowdStrike's Fiscal Second Quarter 2025 Financial Results Conference Call. At this time, all participants are in a listen-only mode.