Shares of Crowdstrike (NASDAQ: CRWD) fell over 18% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $0.40, which beat analysts’ consensus estimate of $0.32 per share.
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Sales increased by 52.8% year-over-year, with revenue hitting $580.88 million. This beat analysts’ expectations of $575.1 million.
Looking forward, management now expects revenue and adjusted earnings per share for Q4 2023 to be in the ranges of $619.1 million to $628.2 million and $0.42 to $0.45, respectively.
For reference, analysts were expecting $634.2 million in revenue along with an adjusted EPS of $0.34.
Overall, Wall Street has a consensus price target of $227.77 on CRWD stock, implying 65.12% upside potential, as indicated by the graphic above.