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CROWDSTRIKE HOLDINGS, INC.

(CRWD)
  Report
Delayed Nasdaq  -  04:00:00 2023-01-27 pm EST
104.35 USD   -0.11%
01/24JPMorgan Starts CrowdStrike Holdings at Overweight With $125 Price Target
MT
01/23Deutsche Bank Downgrades CrowdStrike Holdings to Hold From Buy, Adjusts Price Target to $115 From $150
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01/23Crowdstrike Holdings, Inc. : Change in Directors or Principal Officers (form 8-K)
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Crowdstrike Holdings warning sparks selloff in cybersecurity stocks

11/30/2022 | 07:09am EST
FILE PHOTO: Illustration shows words CYBER SECURITY and binary code

(Reuters) - A warning from Crowdstrike Holdings Inc that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector.

Crowdstrike's shares sank 20% before the bell after the company forecast current-quarter revenue on Tuesday that fell short of analysts' estimates, while peers Zscaler Inc, SentinelOne Inc and Palo Alto Networks Inc fell between 2.0% and 6.2%.

"Increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates," Crowdstrike Chief Executive Officer George Kurtz said.

The results are the latest in a series of dour reports from cybersecurity firms, whose business boomed during the pandemic but is now seeing a slowdown, making them a hot target for private equity buyouts.

"Resilient, but not immune is a theme that will likely dominate the narrative during our October quarter-cohort earnings cycle," Piper Sandler analysts said.

"Both Palo Alto Networks and now Crowdstrike have talked about macro weakness entering the picture on their earnings calls - sending a signal to brace for further potential weakness from other vendors in the space."

Still, some analysts see long-term benefits from the rising demand for cybersecurity as more businesses take to the web and high-profile hacks force companies to be more cautious.

That, as well as year-to-date share drops of up to 69%, have made these companies buyout targets. In October, Vista Equity Partners agreed to take KnowBe4 Inc private in a $4.6 billion deal, while earlier this year Thoma Bravo said it would buy Ping Identity for $2.4 billion.


Graphic: Cyber security stocks fall in 2022

(Reporting by Aditya Soni; Editing by Shounak Dasgupta)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CROWDSTRIKE HOLDINGS, INC. -0.11% 104.35 Delayed Quote.-0.89%
KNOWBE4, INC. -0.04% 24.86 Delayed Quote.0.32%
PALO ALTO NETWORKS, INC. 0.42% 159.78 Delayed Quote.14.50%
PIPER SANDLER COMPANIES -1.87% 138.23 Delayed Quote.6.18%
SENTINELONE, INC. 3.44% 15.02 Delayed Quote.2.95%
ZSCALER, INC. 1.86% 127.52 Delayed Quote.11.88%
All news about CROWDSTRIKE HOLDINGS, INC.
01/24JPMorgan Starts CrowdStrike Holdings at Overweight With $125 Price Target
MT
01/23Deutsche Bank Downgrades CrowdStrike Holdings to Hold From Buy, Adjusts Price Target to..
MT
01/23Crowdstrike Holdings, Inc. : Change in Directors or Principal Officers (form 8-K)
AQ
01/23CrowdStrike Appoints Johanna Flower to Board of Directors
BU
01/23CrowdStrike Holdings, Inc. Appoints Johanna Flower to Board of Directors
CI
01/18BMO Capital Initiates Coverage on CrowdStrike Holdings With Outperform Rating, $120 Pri..
MT
01/17UBS Adjusts CrowdStrike Holdings Price Target to $150 From $195, Maintains Buy Rating
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01/17CrowdStrike Adds Former SentinelOne Executives to the Leadership Team
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01/17CrowdStrike Holdings, Inc. Adds Former SentinelOne Executives to the Leadership Team
CI
01/12Morgan Stanley Adjusts Price Target on CrowdStrike Holdings to $135 From $172, Maintain..
MT
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Analyst Recommendations on CROWDSTRIKE HOLDINGS, INC.
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Financials (USD)
Sales 2023 2 231 M - -
Net income 2023 -176 M - -
Net cash 2023 1 911 M - -
P/E ratio 2023 -138x
Yield 2023 -
Capitalization 24 459 M 24 459 M -
EV / Sales 2023 10,1x
EV / Sales 2024 7,31x
Nbr of Employees 6 959
Free-Float 91,9%
Chart CROWDSTRIKE HOLDINGS, INC.
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CrowdStrike Holdings, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends CROWDSTRIKE HOLDINGS, INC.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 45
Last Close Price 104,35 $
Average target price 168,60 $
Spread / Average Target 61,6%
EPS Revisions
Managers and Directors
George P. Kurtz President, Chief Executive Officer & Director
Burt W. Podbere Chief Financial Officer
Gerhard Watzinger Chairman
Michael Sentonas Chief Technology Officer
Jerry Dixon Chief Information Security Officer
Sector and Competitors