CrowdStrike rises on strong forecast, Q2 beat
CRWD•Full-year outlook lifted
The company raised its full-year revenue forecast to between $5.99 billion and $6.01 billion, from $5.91 billion-$5.96 billion previously.
Analyst reaction and valuation
At least 10 brokerages raised their price targets after the results, according to LSEG-compiled data.
The stock recently traded at 132 times expected earnings, compared with its five-year average forward P/E of 111, suggesting the stock might be overvalued. The average rating of the 55 analysts covering the stock is 'buy', and their median price target is $230, LSEG-compiled data showed.
The stock has surged about 61.4% year to date, outperforming the 12.4% rise in the Nasdaq .IXIC.
Second-quarter revenue tops estimates
CrowdStrike posted second-quarter revenue of $1.47 billion, beating estimates of $1.44 billion, according to LSEG data.
Shares rise after strong results and raised forecast
Shares of cybersecurity firm CrowdStrike CRWD.O rose 8.5% to $205.5 premarket after the company beat second-quarter revenue and profit estimates and raised its annual revenue forecast, citing strong cybersecurity demand.
