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Search resuls for: "Crowdstrike Holdings"


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☆ Business-Software Companies Say Customers Are Pulling Back Amid Economic Concerns
  + stars: | 2022-12-04 | by ( Kathryn Hardison | ) www.wsj.com   time to read: 1 min
Salesforce said its business customers are adopting behaviors typically seen in an economic downturn. Attendees at its 2022 Dreamforce conference in San Francisco. Business-software companies say customers are being more cautious with their spending in response to a challenging economy, adding to the tech industry’s list of concerns. Customers for companies such as Salesforce Inc., Okta Inc. and CrowdStrike Holdings Inc. are taking longer to sign deals, and in some cases slowing their hiring plans as they try to protect their bottom lines, the software providers reported this past week. That trend has created a cloudy outlook for many in the once-booming business-software sector, which benefited from years of demand as customers looked to use the products to trim costs and maintain their businesses during the pandemic.
☆ Crowdstrike Holdings warning sparks selloff in cybersecurity stocks
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +2 min
Nov 30 (Reuters) - A warning from Crowdstrike Holdings Inc (CRWD.O) that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector. "Increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates," Crowdstrike Chief Executive Officer George Kurtz said. The results are the latest in a series of dour reports from cybersecurity firms, whose business boomed during the pandemic but is now seeing a slowdown, making them a hot target for private equity buyouts. "Resilient, but not immune is a theme that will likely dominate the narrative during our October quarter-cohort earnings cycle," Piper Sandler analysts said. Still, some analysts see long-term benefits from the rising demand for cybersecurity as more businesses take to the web and high-profile hacks force companies to be more cautious.
☆ Even CrowdStrike Isn’t on Safe Ground
  + stars: | 2022-11-30 | by ( Dan Gallagher | ) www.wsj.com   time to read: 1 min
George Kurtz, CrowdStrike’s CEO, cited an 11% rise in the days required to close sales deals in the most recent quarter. At least no one can accuse CrowdStrike Holdings of playing it safe. The provider of subscription-based security software has been one of the hottest names in the cloud sector since going public in mid-2019. That is due to sky-high revenue growth rates that—before its fiscal third-quarter results late Tuesday—had averaged 68% year over year over the previous eight quarters. CrowdStrike is currently generating a little more than $2.2 billion in annual revenue—nearly five times what it made in the fiscal year that ended in January 2020.
☆ Stifel downgrades CrowdStrike, says tough macro backdrop is battering cybersecurity stock
  + stars: | 2022-11-30 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
It's time to take a step back from CrowdStrike Holdings after the cybersecurity company's latest earnings report, according to Stifel. Analyst Brad R. Reback downgraded the cybersecurity stock to hold from buy, saying that the company's latest quarterly results showed CrowdStrike was hurt by a challenging macro backdrop. The analyst also cut his estimates and slashed his price target on the stock. CrowdStrike surpassed earnings and revenue expectations, posting adjusted earnings per share of 40 cents on $581 million in revenue. The analyst's $120 price target, slashed from $225, is about 13% below where shares closed Tuesday.
☆ CrowdStrike forecasts current-quarter revenue below estimates
  + stars: | 2022-11-29 | by ( ) www.reuters.com   time to read: +1 min
Nov 29 (Reuters) - CrowdStrike Holdings Inc (CRWD.O) on Tuesday forecast fourth-quarter revenue below Wall Street estimates, as an economic downturn hit spending for its cyber security services. The company expects revenue between $619.1 million and $628.2 million, compared with analysts' average estimate of $632.8 million, according to Refinitiv IBES data. CrowdStrike also said increased macroeconomic headwinds elongated sales cycles with smaller customers, and caused some larger ones to pursue multi-phase subscription start dates, which delays annual recurring revenue (ARR) recognition until future quarters. Total revenue for the third quarter was $580.8 million. On an adjusted basis, the company earned 40 cents for the quarter ended Oct. 31, compared to estimates of 31 cents.
☆ Stocks making the biggest moves after hours: Workday, CrowdStrike, Horizon Therapeutics and more
  + stars: | 2022-11-29 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +2 min
Workday — Workday gained 6% postmarket Tuesday after earnings beat Wall Street estimates on both the top- and bottom lines. NetApp reported adjusted earnings per share of $1.48, beating estimates of $1.33. But its revenue of $1.66 billion fell short of the $1.68 billion Wall Street anticipated, per Refinitiv. HP Enterprise — HP Enterprise rose 2.2% after the company beat earnings estimates on the top and bottom lines. Horizon Therapeutics — The biotech shot up 36% after hours after Dow Jones reported that the $18 billion biotech is fielding takeover interest.
☆ Cloud-Security Startup Lacework Taps New CFO as It Weighs IPO
  + stars: | 2022-11-17 | by ( Kristin Broughton | ) www.wsj.com   time to read: +3 min
Cloud-security business Lacework Inc. on Thursday named a finance chief with public-company experience as the startup lays the groundwork for an eventual initial public offering. He has also held senior finance roles at technology companies ServiceNow Inc. and Hewlett Packard Enterprise Co. At Lacework, Mr. Casey succeeds Mike Staiger, who stepped down in June. Lacework has ample cash from last year’s fundraising round and likely won’t need more capital for at least a couple of years, Mr. Casey said. Additionally, Mr. Casey is helping Lacework adjust its pricing model, for instance by offering customers a wider range of functionalities and price points. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.
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