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CrowdStrike (CRWD) Up 42% YTD: Will the Rally Extend Further?
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CrowdStrike Holdings, Inc. (CRWD - Free Report) is currently one of the top-performing stocks in the technology sector. The stock’s rally reflects the company’s robust fundamentals. Therefore, if you haven’t taken advantage of the share-price appreciation yet, it’s time you add the stock to your portfolio.
The company has performed brilliantly year to date (YTD) and has the potential to carry the momentum further.
Why Is CRWD an Attractive Pick?
Share Price Appreciation: CrowdStrike’s price trend reflects that the stock has had an impressive run on the bourse YTD. Shares of the company have rallied 42.2% compared with the Zacks Computer and Technology sector’s growth of 35.6%.
Solid Rank & Growth Score: CrowdStrike currently carries a Zacks Rank #2 (Buy) and has a Growth Score of A. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or #2 offer the best investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: Of the 15 analysts covering the stock, 12 have raised their estimates for fiscal 2024 over the past 60 days versus no southward revisions, reflecting their confidence in the company. During the same period, the Zacks Consensus Estimate for the current fiscal-year earnings has moved 2.1% north.
Positive Earnings Surprise History: CrowdStrike has an impressive earnings surprise history. The company outpaced estimates in the trailing four quarters, delivering an average earnings surprise of 19.2%.
Solid Growth Prospects: The Zacks Consensus Estimate of $2.38 for fiscal 2024 earnings suggests growth of 54.6% from the year-ago reported figure. Moreover, earnings are expected to register 28.4% growth in fiscal 2025 and reach $3.06 per share. The long-term earnings per share growth rate is estimated at 29.9%.
Strong Fundamental Drivers
CrowdStrike is a global leader in next-generation endpoint protection, threat intelligence and cyberattack response services. The company is benefiting from the rising demand for cyber-security solutions due to the slew of data breaches and the increasing necessity for security and networking products amid the growing hybrid working trend.
Additionally, the continued digital transformation and cloud migration strategies adopted by organizations are key growth drivers. CRWD’s portfolio strength, mainly the Falcon platform’s 10 cloud modules, boosts its competitive edge and helps add users. Moreover, strategic acquisitions like Reposify, SecureCircle and Humio have expanded the company’s product portfolio and capabilities, thereby helping it acquire new deals.
Going by the Grand View Research report, the global cybersecurity market is projected to witness a CAGR of 12.3% during the 2023-2030 period. These predictions bode well for CRWD, which has a diversified product portfolio for large and mid-sized organizations to protect their sensitive data.
CrowdStrike has been witnessing top-and-bottom-line growth for the past several quarters due to the strong demand environment for cyber-security solutions and its sustained focus on enhancing product offerings through in-house research and development and acquisitions.
In the most recently reported financial results for the first quarter of fiscal 2024, the company’s revenues and non-GAAP earnings surged 42% and 83.9%, respectively, on a year-over-year basis. In fiscal 2023, CRWD’s revenues jumped 54.4% year over year to $2.24 billion, while non-GAAP earnings surged 130% to $1.54 per share.
Considering CrowdStrike’s growth prospects, it makes sense to invest for long-term gains.
Other Stocks to Consider
Some other top-ranked stocks from the broader technology sector are Salesforce (CRM - Free Report) , Meta Platforms (META - Free Report) and Blackbaud (BLKB - Free Report) . While Salesforce sports a Zacks Rank #1, Meta and Blackbaud each carry a Zacks Rank #2.
The Zacks Consensus Estimate for Salesforce's second-quarter fiscal 2024 earnings has been revised upward by a penny to $1.90 per share for the past 30 days. For fiscal 2024, earnings estimates have moved upward by a couple of cents to $7.44 per share in the past 30 days.
Salesforce's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 15.5%. Shares of CRM have soared 60.5% YTD.
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised a penny northward to $2.83 per share in the past seven days. For 2023, earnings estimates have increased by 3 cents to $11.97 per share in the past seven days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 144.2% YTD.
The Zacks Consensus Estimate for Blackbaud’s second-quarter 2023 earnings has been revised by a couple of cents northward to 93 cents per share in the past 60 days. For 2023, earnings estimates have increased to $3.75 per share from $3.68 60 days ago.
Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 25.2 % YTD.
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CrowdStrike (CRWD) Up 42% YTD: Will the Rally Extend Further?
CrowdStrike Holdings, Inc. (CRWD - Free Report) is currently one of the top-performing stocks in the technology sector. The stock’s rally reflects the company’s robust fundamentals. Therefore, if you haven’t taken advantage of the share-price appreciation yet, it’s time you add the stock to your portfolio.
The company has performed brilliantly year to date (YTD) and has the potential to carry the momentum further.
Why Is CRWD an Attractive Pick?
Share Price Appreciation: CrowdStrike’s price trend reflects that the stock has had an impressive run on the bourse YTD. Shares of the company have rallied 42.2% compared with the Zacks Computer and Technology sector’s growth of 35.6%.
Solid Rank & Growth Score: CrowdStrike currently carries a Zacks Rank #2 (Buy) and has a Growth Score of A. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or #2 offer the best investment opportunities for investors. Thus, the company appears to be a compelling investment proposition at the moment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Northward Estimate Revisions: Of the 15 analysts covering the stock, 12 have raised their estimates for fiscal 2024 over the past 60 days versus no southward revisions, reflecting their confidence in the company. During the same period, the Zacks Consensus Estimate for the current fiscal-year earnings has moved 2.1% north.
CrowdStrike Price and Consensus
CrowdStrike price-consensus-chart | CrowdStrike Quote
Positive Earnings Surprise History: CrowdStrike has an impressive earnings surprise history. The company outpaced estimates in the trailing four quarters, delivering an average earnings surprise of 19.2%.
Solid Growth Prospects: The Zacks Consensus Estimate of $2.38 for fiscal 2024 earnings suggests growth of 54.6% from the year-ago reported figure. Moreover, earnings are expected to register 28.4% growth in fiscal 2025 and reach $3.06 per share. The long-term earnings per share growth rate is estimated at 29.9%.
Strong Fundamental Drivers
CrowdStrike is a global leader in next-generation endpoint protection, threat intelligence and cyberattack response services. The company is benefiting from the rising demand for cyber-security solutions due to the slew of data breaches and the increasing necessity for security and networking products amid the growing hybrid working trend.
Additionally, the continued digital transformation and cloud migration strategies adopted by organizations are key growth drivers. CRWD’s portfolio strength, mainly the Falcon platform’s 10 cloud modules, boosts its competitive edge and helps add users. Moreover, strategic acquisitions like Reposify, SecureCircle and Humio have expanded the company’s product portfolio and capabilities, thereby helping it acquire new deals.
Going by the Grand View Research report, the global cybersecurity market is projected to witness a CAGR of 12.3% during the 2023-2030 period. These predictions bode well for CRWD, which has a diversified product portfolio for large and mid-sized organizations to protect their sensitive data.
CrowdStrike has been witnessing top-and-bottom-line growth for the past several quarters due to the strong demand environment for cyber-security solutions and its sustained focus on enhancing product offerings through in-house research and development and acquisitions.
In the most recently reported financial results for the first quarter of fiscal 2024, the company’s revenues and non-GAAP earnings surged 42% and 83.9%, respectively, on a year-over-year basis. In fiscal 2023, CRWD’s revenues jumped 54.4% year over year to $2.24 billion, while non-GAAP earnings surged 130% to $1.54 per share.
Considering CrowdStrike’s growth prospects, it makes sense to invest for long-term gains.
Other Stocks to Consider
Some other top-ranked stocks from the broader technology sector are Salesforce (CRM - Free Report) , Meta Platforms (META - Free Report) and Blackbaud (BLKB - Free Report) . While Salesforce sports a Zacks Rank #1, Meta and Blackbaud each carry a Zacks Rank #2.
The Zacks Consensus Estimate for Salesforce's second-quarter fiscal 2024 earnings has been revised upward by a penny to $1.90 per share for the past 30 days. For fiscal 2024, earnings estimates have moved upward by a couple of cents to $7.44 per share in the past 30 days.
Salesforce's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 15.5%. Shares of CRM have soared 60.5% YTD.
The Zacks Consensus Estimate for Meta's second-quarter 2023 earnings has been revised a penny northward to $2.83 per share in the past seven days. For 2023, earnings estimates have increased by 3 cents to $11.97 per share in the past seven days.
Meta’s earnings beat the Zacks Consensus Estimate twice in the preceding four quarters while missing the same on two occasions, the average surprise being 15.5%. Shares of META have surged 144.2% YTD.
The Zacks Consensus Estimate for Blackbaud’s second-quarter 2023 earnings has been revised by a couple of cents northward to 93 cents per share in the past 60 days. For 2023, earnings estimates have increased to $3.75 per share from $3.68 60 days ago.
Blackbaud's earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 10.4%. Shares of BLKB have rallied 25.2 % YTD.