On August 27, CrowdStrike Holdings, Inc. rose 9.44% overnight, trading at $208.0/share, with turnover of $63,000. The surge followed the company's second fiscal quarter results that exceeded Wall Street expectations on both revenue and earnings, accompanied by an upward revision to full-year guidance.
CrowdStrike reported Q2 adjusted EPS of $0.31, beating the consensus estimate of $0.29 by 6.9%, representing a 34.78% year-over-year increase. Revenue came in at $1.471 billion versus the $1.440 billion estimate, reflecting 25% year-over-year growth. The company raised its full-year revenue outlook to $5.99-6.01 billion and adjusted EPS guidance to $1.25-$1.26. CEO characterized AI security as the largest opportunity in company history, with AI-driven threats fueling accelerating demand for cybersecurity solutions.
Multiple institutions raised price targets following the report: Benchmark to $250, Barclays from $169 to $235, and Jefferies to $230, all maintaining overweight ratings. CrowdStrike shares have gained over 61% year-to-date as AI infrastructure security demand continues expanding.
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