50.71 -0.18 (-0.35%)
After hours: 7:59PM EST
|Bid||50.50 x 1000|
|Ask||50.60 x 1200|
|Day's Range||50.50 - 55.10|
|52 Week Range||44.58 - 101.88|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CrowdStrike Holdings Inc. fields praise from analysts Friday after the cybersecurity company reported a strong quarter and outlook, but a drop in the stock from recent highs and a looming lock-up expiration promise to make the stock volatile in the short term.
Although CrowdStrike Holdings Inc (NASDAQ: CRWD ) delivered another strong quarter with improvements in key matrices, the stock valuation is high relative to peers, according to Baird. The Analyst Baird’s ...
(Bloomberg) -- With Crowdstrike Holdings Inc. shares down by almost 50% from their initial explosive gain, and the cybersecurity software provider’s recently reported earnings behind it, attention turns now to what early investors and insiders will do. Come Monday, co-founder and chief George Kurtz and other early backers get their first chance to take money off the table day since the June IPO.The cybersecurity software provider’s shares are up 56% above its IPO price, but have fallen from its mid-August peak of $102 as investors have cooled on software stocks with lofty valuations. Roughly 70% of the Crowdstrike shares that are available for trading unlock next week.If there is any selling of Kurtz’ stake, it’ll be determined by the market.“I’m on a 10b5-1 plan and depending on what the market does, it could sell, or not, programatically, but that’s not reflective of my views,” Kurtz said in a telephone interview. “I’m bullish about our future and that’s why [the plan] is in place.” He declined to discuss what parameters were set to trigger selling.With an enterprise value to estimated fiscal 2020 revenue ratio of 25, Crowdstrike still sells at a premium to software peers. When asked about investors’ valuation concerns, Kurtz said: “The market does what the market does well -- look at strong companies, and reward them.”The stock was briefly up as much as 6.7% pre-market Friday after reporting a beat-and-raise quarter on Thursday after the market close.Crowdstrike’s IPO was a blockbuster even by information technology standards. Its offering is among nine of this year’s 25 technology and communications IPOs that was both up-sized and priced above-range -- and Crowdstrike had already boosted the marketed offer.It also had the best debut in that group, soaring 87% at the open. Zoom Video Communications Inc.’s 81% gain was second best.Early investors include Warburg Pincus and Accel. Warburg bought shares in November 2011 as the very first investor. And its co-CEO Joseph Landy and the firm’s managing director Cary Davis are on Crowdstrike’s board of directors. Accel was also named as a principal shareholder in regulatory filings, and its partner Sameer Gandhi is on Crowdstrike’s board. Warburg declined to comment and Accel didn’t respond to queries about the lock-up expiration.A large block trade could weigh on shares, which have an average 30-day trading volume of 1.6 million. Kurtz said he doesn’t know what early investors will do, but is confident in their ability to manage “liquidity situations.”As for additional capital needs? “We wouldn’t comment on future financing, but we’ve got a strong balance sheet and we’re excited about our positive free cash flow in the quarter,” he said. “Strong balance sheet and execution is the name of the game.”\--With assistance from Jeran Wittenstein.To contact the reporter on this story: Crystal Kim in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dow futures: The stock market rally is acting well going into Friday's jobs report. Tesla, DocuSign, Okta, Zoom and Ulta Beauty led movers late.
CrowdStrike Holdings Inc. topped Wall Street estimates with quarterly results Thursday, and the cybersecurity company’s stock turned around after a typo in its outlook was corrected.
Hedge funds are known to underperform the bull markets but that's not because they are terrible at stock picking. Hedge funds underperform because their net exposure in only 40-70% and they charge exorbitant fees. No one knows what the future holds and how market participants will react to the bountiful news that floods in each […]
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CrowdStrike® Inc. (Nasdaq: CRWD), a leader in cloud-delivered endpoint protection, today announced that for the second year in a row it has the highest overall rating among vendors named a 2019 Gartner Peer Insights Customers’ Choice for Endpoint Protection Platforms. CrowdStrike received a 4.9 rating out of 5 based on 228 verified customer reviews, the highest of all vendors named with this Customers’ Choice in this market, as of 31 October 2019.
In the latest trading session, CrowdStrike Holdings (CRWD) closed at $56, marking a -1.87% move from the previous day.
Palo Alto's (PANW) first-quarter fiscal 2020 earnings are likely to have gained from strong adoption of Prisma cloud and Cortex platforms. However, high expenses are expected to have been a headwind.
Paul Martini, the CEO of Boston-based cloud security company iboss Inc., recently said that an IPO is “definitely” down the road, providing details regarding revenue goals and expected IPO range. While cybersecurity and IPO experts agree that cybersecurity is a growth area, they were surprised to hear Martini's proposed timeline for hiring a CFO. Martini is aiming to have a CFO just three to four months before the planned IPO.
Shares of CrowdStrike Holdings Inc. are up 3.3% in premarket trading Tuesday after Goldman Sachs analyst Heather Bellini upgraded the stock to neutral from sell but lowered her price target to $55 from $66. Bellini had moved to a sell rating in October, arguing that the stock looked pricey based on a ratio of enterprise value to calendar 2020 "blue sky" revenue. "We continue to view CrowdStrike as a leading next-generation endpoint security vendor with a differentiated, cloud native architecture relative to the competition and with the stock down 23% since our 10/11 downgrade to sell (S&P 500 +4% over the same time period and its comp group down 6%), we see risk/reward as more balanced," she wrote. Shares are off 50% over the past three months, as the S&P 500 has increased 7%.
Even the best-performing new stock companies from the region have been hit by a reset that appears to be happening on Wall Street.
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Cybersecurity company iboss Inc., which relocated its headquarters from San Diego to Boston in 2016, may file the documents to go public in the next 12 months, provided it hits its recurring revenue goals, according to CEO Paul Martini. But it still hasn't a chief financial officer.
Proofpoint's (PFPT) Q3 results reflect a firm international footing and solid uptick in emerging suite of products. Robust demand for Email Fraud Defense, Threat Response and PSAT are tailwinds.
The company with the highest growth in this year's rankings notched 669% revenue growth over three years.
Nomura Instinet analyst Christopher Eberle said in a note that the Sunnyvale, Calif., company was disrupting the endpoint security market with its proprietary platform.
(Bloomberg) -- Software companies fell on Friday, extending recent losses after results from Atlassian Corp. topped analyst forecasts yet failed to provide enough upside to assuage concerns over the group’s valuation.Atlassian shares dropped as much as 11% to their lowest level since May. The stock was on track for its third straight decline, as was Veeva Systems Inc., off 5.4%, and ServiceNow Inc., down 3.8%, which reports its own results next week. Coupa Software Inc. sank 8.4% in its fourth straight drop, a period over which it has shed more than 20% of its valuation. Twilio Inc. was down 4.5%. Alteryx Inc. was down 7.2% and Crowdstrike Holdings Inc. dropped 7.3%, heading for the eighth decline in the past nine sessions.A basket of high-multiple software stocks tracked by Goldman Sachs fell 5.7% in its fifth straight decline, hitting its lowest since March, while the Russell Midcap Technology Growth Index was down 2.2%.“When investors have lost conviction, it usually means the best strategy is to stay conservative until the coast is at least somewhat clear,” wrote Richard Davis, an analyst at Canaccord Genuity. “We are in that time in the cycle.”Davis has a buy rating on Atlassian, writing that it “fits the description of a safe harbor company.” However, he said the stock has a “high-ish valuation” and suggested that multiples could be hard to justify. “In this macro environment,” he wrote, “if anyone expected an over-sized guide up, they haven’t been paying attention.”Recent weakness in the sector included both Workday Inc. and Zoom Video Communications Inc. tumbling in the wake of their respective investor events, which underlined growth concerns.Atlassian’s results included a raised full-year revenue forecast, and Cowen wrote that this could ease broader concerns over the sector.This “was one of the more anticipated prints in software as a result of emerging macro concerns in the space and it being one of the first to report,” analyst J. Derrick Wood wrote. The “solid numbers & outlook, along with constructive commentary on stable demand conditions, should give investors greater comfort in the potential for stability in software spending.”To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Jim SilverFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.