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CrowdStrike Up on Outlook, Record Quarter

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By Christiana Sciaudone

Investing.com -- Crowdstrike Holdings Inc (NASDAQ:CRWD) jumped after forecasting a strong year and reporting record results that beat expectations, continuing a streak since it went public in 2019.

Fiscal first quarter revenue is expected at between $288 million and $292 million and net income from 5 cents to 6 cents, the company said in a statement on Tuesday. Fourth quarter revenue of $265 million beat the expected $250 million with net income of 13 cents, better than the 9 cents analysts had estimated, according to data compiled by Investing.com

The results prompted price target increases from Oppenheimer and RBC Capital. The shares have 17 buy ratings, two holds and no sells, according to data compiled by Investing.com. Shares are still down about 17% since hitting a record last month.

The cybersecurity company reported a record number of net new subscription customers and operating and free cash flow for the last quarter.

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