CrowdStrike’s shares (NASDAQ:CRWD) saw a slight dip in post-market trading, a surprising move given the company’s impressive Q2 financials that breezed past market expectations. Ending July 31, the cybersecurity powerhouse reported adjusted earnings of $0.74 per share, with a remarkable 36.7% year-over-year rise in revenue, touching $731.6M. The company proudly boasted a 37% surge in annual recurring revenue, wrapping up the period at a solid $2.93B, further buoyed by the addition of $196M in new ARR during the quarter.
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The upbeat momentum was clearly visible in the company’s operational cash flow, which hit a record $245M, paired with an equally commendable free cash flow of $189M. Analysts had pegged CrowdStrike’s earnings to be $0.56 per share on revenue of $724.39M, figures that the company effortlessly surpassed. Marching into Q3, CrowdStrike expects an adjusted EPS of $0.74, with revenue projected between $775.4M and $778M, again overshooting analyst forecasts. For the full year, revenue is anticipated to range from $3.03B to $3.04B, coupled with earnings predictions of $2.80 to $2.84 per share.
Turning to Wall Street, analysts have a Strong Buy consensus rating on CRWD stock based on 26 Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Nevertheless, the average price target of $180.07 per share implies 20.71% upside potential.
