CrowdStrike Holdings (CRWD Quick QuoteCRWD - Free Report) is scheduled to report its first-quarter fiscal 2027 results on June 3, 2026.

CrowdStrike anticipates revenues between $1.36 billion and $1.364 billion for the first quarter of fiscal 2027. The Zacks Consensus Estimate for CrowdStrike’s fiscal first-quarter revenues is pegged at $1.36 billion, indicating year-over-year growth of 23.5%.

For the fiscal first quarter, the company expects non-GAAP earnings per share between $1.06 and $1.07. The Zacks Consensus Estimate for CrowdStrike’s fiscal first-quarter earnings is pegged at $1.07 per share, implying a year-over-year increase of 46.6%. The consensus mark for earnings has remained unchanged over the past 30 days.

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CrowdStrike’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 6.7%.

Earnings Whispers for CRWD

Our proven model does not conclusively predict an earnings beat for CrowdStrike this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

CrowdStrike has an Earnings ESP of 0.00% and carries a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here.

Factors Likely to Influence CRWD’s Q1 Results

CrowdStrike’s first-quarter fiscal 2027 results are likely to benefit from the robust demand for its cybersecurity products, given the increasing number of threat incidents across the globe. As a rising number of employees log into the enterprise's network, the vulnerabilities of cyber breaches lead to a greater need for security. These factors are likely to have spurred the demand for CrowdStrike’s products in the fiscal first quarter.

CrowdStrike’s Falcon Flex subscription model is expected to have remained a major growth driver. Annual recurring revenue (ARR) from Flex accounts crossed $1.69 billion, growing more than 120% year over year during the fourth quarter of fiscal 2026, showing strong adoption across enterprise customers. Falcon Flex helps customers adopt new modules without long contract steps, which leads to faster platform usage. This structure is leading to larger deals.

During the fourth quarter, CrowdStrike highlighted several Falcon Flex expansion deals. A key customer win during the fiscal fourth quarter includes a large enterprise software customer that initially started with only one module and low six-figure spending, but later expanded to 25 modules and $86 million in total Flex contract value. Another customer win during the fourth quarter included a leading cloud software provider customer, which signed an eight-figure re-Flex deal involving Charlotte AI and Next Generation (Next-Gen) Security Information and Event Management (SIEM) after achieving three times faster response times.

CrowdStrike is seeing strong momentum in its Next-Gen SIEM as part of its mission to protect enterprises against evolving cyber threats. In the fourth quarter of fiscal 2026, CrowdStrike’s Next-Gen SIEM business grew more than 75% year over year and exceeded $585 million in ending ARR, showing that more customers are choosing it over older SIEM tools that are costly and slow.  One example shared on the last earnings call was a Fortune 500 retailer that signed a seven-figure deal and replaced its legacy SIEM and attached its point-product data pipeline with CrowdStrike. Here, Falcon’s fully native data pipeline and expected 80% faster query performance were key reasons behind the win. This momentum is likely to have continued in the to-be-reported quarter.

CrowdStrike has enhanced AI-based capabilities like AI Model Scanning, Shadow AI detection and Charlotte AI Agentic Detection Triage. In the fourth quarter, Charlotte AI usage increased more than six times year over year, while ARR tied to Charlotte AI more than tripled. CrowdStrike now offers Charlotte AI, along with 10 additional AI agents focused on automating security tasks and improving security operations center efficiency. Further, Charlotte AI has achieved FedRAMP high authorization, as well. This means U.S. government agencies can use Charlotte AI through the Falcon platform in GovCloud. Since government and regulated customers are large security buyers, this can support SIEM and SOC deals, which is expected to have boded well for CrowdStrike’s prospects in the to-be-reported quarter.

CRWD Price Performance & Stock Valuation

Over the past year, shares of CrowdStrike have surged 43.1%, outperforming the Zacks Security industry and its peers, including Check Point Software (CHKP Quick QuoteCHKP - Free Report) , Palo Alto Networks (PANW Quick QuotePANW - Free Report) and Okta Inc. (OKTA Quick QuoteOKTA - Free Report) .

The Zacks Security industry has appreciated 28.8% over the past year. Shares of Palo Alto Networks and Okta have jumped 39.9% and 9.5%, respectively, while Check Point Software shares have plunged 29.2%.

One-Year Price Return Performance

Image Source: Zacks Investment Research

Now, let’s look at the value CrowdStrike offers investors at the current levels. CrowdStrike is trading at a premium with a forward 12-month P/S of 25.93X compared with the industry’s 14.34X, reflecting a stretched valuation.

Forward 12-Month P/S Ratio

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CrowdStrike stock also trades at a higher P/S multiple compared with other industry peers, including Checkpoint Software, Palo Alto Networks and Okta. At present, Checkpoint Software, Palo Alto Networks and Okta have P/S multiples of 4.70X, 15.45X and 4.83X, respectively.

Investment Consideration for CrowdStrike

A significant driver of new customer addition is the Falcon Flex subscription model, which simplifies security adoption by offering modular, scalable cybersecurity solutions. CrowdStrike secured major deals in the last reported quarter, including an eight-figure re-Flex agreement with a leading cloud software provider and a seven-figure Next-Gen SIEM deal with a Fortune 500 retailer, showing strong enterprise demand. This shows CrowdStrike’s ability to attract high-value customers, encourages long-term commitments, steady revenue growth and deep customer integration.

However, CrowdStrike’s rising costs are a cause of concern. Over the last seven fiscals, CrowdStrike’s Research & Development (R&D) expenses have increased 12-fold, while Sales & Marketing (S&M) expenses flared up more than ten-fold to $1.83 billion in fiscal 2026 from $173 million in fiscal 2019. Compared with fiscal 2025, S&M and R&D expenses soared 20% and 29%, respectively. Though the firm foresees these investments generating benefits over the long run, higher expenses might weigh on the company’s bottom-line results.

Conclusion: Hold CrowdStrike Stock Right Now

As businesses continue prioritizing AI-driven cybersecurity solutions, CrowdStrike’s leadership in threat prevention, response and recovery will only strengthen. CrowdStrike’s subscription-based model and recurring revenue streams, along with its strong partner base, should provide stability and gradual growth, even amid ongoing macroeconomic challenges and geopolitical issues.

However, rising costs and premium valuation warrant a cautious approach to the stock.