Crowdstrike Holdings Inc will report its fiscal second quarter 2024 financial results after the market close on Wednesday, August 30, 2023, with analysts expecting earnings of $0.56 per share, up 56% year over year, according to the Zacks Consensus Estimate.
The cybersecurity company's revenue for the period, meanwhile, is expected to rise 35.4% year over year to $724 million.
Zacks noted that CrowdStrike’s 2Q results are likely to reflect the benefits of the continued solid demand for its products, given the healthy environment of the global security market.
As well, the company’s collaboration with Amazon Web Services (AWS) should provide a boost to its earnings through the expansion in the volume of transactions via Amazon’s AWS Marketplace, growth in co-selling opportunities with AWS salesforce and the uptake of AWS service integrations, according to Zacks.
During its most recently reported quarter (1Q), the company's top- and bottom-lines surpassed consensus estimates but revenue growth was slower than in the year-ago quarter.
CrowdStrike has exceeded earnings per share and revenue expectations in every quarter over the past two years.
Nevertheless, Morgan Stanley (NYSE:MS) analysts downgraded CrowdStrike from ‘Overweight’ to ‘Equal Weight’ ahead of its results, while cutting their target price to $167 from $178.
Shares of CrowdStrike rose 2.2% to $147.26 in early-afternoon trading on Tuesday and have gained 43% year to date.
Contact Sean at sean@proactiveinvestors.com