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Earnings To Watch: CrowdStrike (CRWD) Reports Q3 Results Tomorrow


Anthony Lee /
2024/11/25 2:03 am EST

Cybersecurity company CrowdStrike (NASDAQ:CRWD) will be reporting results tomorrow after the bell. Here’s what you need to know.

CrowdStrike beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $963.9 million, up 31.7% year on year. The quarter itself was solid, with ARR (annual recurring revenue), revenue, and operating profit all beating. Guidance was underwhelming, though, as full-year revenue was lowered and revenue guidance for next quarter missed Wall Street’s estimates.

Is CrowdStrike a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting CrowdStrike’s revenue to grow 25.1% year on year to $983.1 million, slowing from the 35.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.81 per share.

CrowdStrike Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CrowdStrike has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.3% on average.

Looking at CrowdStrike’s peers in the cybersecurity segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Varonis delivered year-on-year revenue growth of 21.1%, beating analysts’ expectations by 4.7%, and Qualys reported revenues up 8.4%, topping estimates by 2.1%. Varonis traded down 10.7% following the results while Qualys was up 23.9%.

Read our full analysis of Varonis’s results here and Qualys’s results here.

There has been positive sentiment among investors in the cybersecurity segment, with share prices up 18.1% on average over the last month. CrowdStrike is up 23.6% during the same time and is heading into earnings with an average analyst price target of $339.07 (compared to the current share price of $372.48).

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