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CrowdStrike (CRWD) Launches Breakthrough XDR Solution for XIoT
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CrowdStrike (CRWD - Free Report) recently unlocked the world’s first Extended Detection and Response (“XDR”) platform to stop breaches for Extended Internet of Things (XIoT) assets, Falcon Insight for IoT.
The Falcon product identifies XIoT threats like ransomware and malicious project files to reduce risk by leveraging asset-specific contexts, such as device type, operating system version, and protocols. It provides customized policy recommendations for XIoT assets, which empower organizations to limit system burden and manage sensor updates conveniently. With integrated response actions, the new solution further ensures minimal operational disruptions.
Currently available for general customers, CrowdStrike’s Falcon Insight for IoT is rigorously tested and validated by leading industrial control system vendors for simplified deployment, interoperability and safety on mission-critical XIoT assets. The new launch will enable CRWD’s existing clients to not only secure their enterprises across XIoT but also operational technology, medical devices, industrial IoT and other connected devices.
CrowdStrike mainly focuses on selling subscription-based services that enable it to generate recurring revenues and higher margins for it than the hardware-centric model. The company’s rich experience in the security space and continued delivery of mission-critical solutions are aiding it in maintaining and growing its market share.
In March, the company inked a strategic alliance with Dell Technologies to help organizations prevent, detect and respond to cyber threats with frictionless and cost-effective offerings. Before that, in 2022, it declared the expansion of its Falcon platform with the launch of the industry’s most complete adversary-driven external attack surface management solution, CrowdStrike Falcon Surface. This standalone threat intelligence solution stops breaches by minimizing risk from exposed assets in real time.
CrowdStrike’s Falcon Surface pinpoints unknown, exposed Internet-facing assets so that security teams can secure their ever-evolving digital perimeter. It enables them to detect, prioritize and manage all exposed Internet-facing assets that are centralized or remote across on-premises environments and subsidiary, cloud and third-party vendors with a zero-touch approach. It features intelligent Internet mapping and association technology that continuously scans the entire Internet to automatically map companies’ known and unknown assets, discovering exposures, risks and misconfigurations within and beyond their official network ranges.
CrowdStrike has been witnessing top and bottom-line growth for the past several quarters, owing to the strong demand environment for cyber-security solutions along with its sustained focus on enhancing product offerings through in-house research and development and acquisitions. In the fourth quarter, the company’s revenues jumped 48% year over year to $637.4 million while non-GAAP earnings surged 56.7% to 47 cents per share.
Zacks Rank & Stocks to Consider
CrowdStrike currently carries a Zacks Rank #3 (Hold). Shares of CRWD have fallen 41.9% in the past year.
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CrowdStrike (CRWD) Launches Breakthrough XDR Solution for XIoT
CrowdStrike (CRWD - Free Report) recently unlocked the world’s first Extended Detection and Response (“XDR”) platform to stop breaches for Extended Internet of Things (XIoT) assets, Falcon Insight for IoT.
The Falcon product identifies XIoT threats like ransomware and malicious project files to reduce risk by leveraging asset-specific contexts, such as device type, operating system version, and protocols. It provides customized policy recommendations for XIoT assets, which empower organizations to limit system burden and manage sensor updates conveniently. With integrated response actions, the new solution further ensures minimal operational disruptions.
Currently available for general customers, CrowdStrike’s Falcon Insight for IoT is rigorously tested and validated by leading industrial control system vendors for simplified deployment, interoperability and safety on mission-critical XIoT assets. The new launch will enable CRWD’s existing clients to not only secure their enterprises across XIoT but also operational technology, medical devices, industrial IoT and other connected devices.
CrowdStrike Price and Consensus
CrowdStrike price-consensus-chart | CrowdStrike Quote
CrowdStrike mainly focuses on selling subscription-based services that enable it to generate recurring revenues and higher margins for it than the hardware-centric model. The company’s rich experience in the security space and continued delivery of mission-critical solutions are aiding it in maintaining and growing its market share.
In March, the company inked a strategic alliance with Dell Technologies to help organizations prevent, detect and respond to cyber threats with frictionless and cost-effective offerings. Before that, in 2022, it declared the expansion of its Falcon platform with the launch of the industry’s most complete adversary-driven external attack surface management solution, CrowdStrike Falcon Surface. This standalone threat intelligence solution stops breaches by minimizing risk from exposed assets in real time.
CrowdStrike’s Falcon Surface pinpoints unknown, exposed Internet-facing assets so that security teams can secure their ever-evolving digital perimeter. It enables them to detect, prioritize and manage all exposed Internet-facing assets that are centralized or remote across on-premises environments and subsidiary, cloud and third-party vendors with a zero-touch approach. It features intelligent Internet mapping and association technology that continuously scans the entire Internet to automatically map companies’ known and unknown assets, discovering exposures, risks and misconfigurations within and beyond their official network ranges.
CrowdStrike has been witnessing top and bottom-line growth for the past several quarters, owing to the strong demand environment for cyber-security solutions along with its sustained focus on enhancing product offerings through in-house research and development and acquisitions. In the fourth quarter, the company’s revenues jumped 48% year over year to $637.4 million while non-GAAP earnings surged 56.7% to 47 cents per share.
Zacks Rank & Stocks to Consider
CrowdStrike currently carries a Zacks Rank #3 (Hold). Shares of CRWD have fallen 41.9% in the past year.
Some better-ranked stocks from the broader Computer and Technology sector are Airbnb (ABNB - Free Report) , Baidu (BIDU - Free Report) and Meta Platforms (META - Free Report) . While Baidu and Meta Platforms flaunt a Zacks Rank #1 (Strong Buy), Airbnb carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 39 cents southward to $2.21 per share over the past 30 days. For 2023, earnings estimates have risen by a penny to $11.54 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in all the preceding four quarters, the average surprise being 45.5%. Shares of the company have gained 4.3% in the past year.
The Zacks Consensus Estimate for Meta Platforms' first-quarter 2023 earnings has been revised a penny upward to $1.97 per share over the past seven days. For fiscal 2023, earnings estimates have moved north by a penny to $10.23 in the past seven days.
META’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missing twice, the average surprise being 8.6%. Shares of the company have fallen 0.2% in the past year.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from breakeven to 14 cents per share over the past 60 days. For 2023, earnings estimates have moved up by 52 cents to $3.38 in the past 60 days.
ABNB's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 28.7% in the past year.