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☆ The top 10 things to watch in the stock market Thursday
▼ + stars: | 2023-10-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jerome Powell's, Goldman, Morgan Stanley's Adam Jonas, we've, Morgan Stanley, Crag Jelinek, Ron Vachris, Oppenheimer, Says, downgrades, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Treasury, Netflix, Vegas, Wynn Resorts, WYNN, Disney, Entertainment, Sports, ESPN, Bloomberg, Devon Energy, Costco, Jefferies, Deutsche Bank, Starbucks, Jim Cramer's Charitable, CNBC, Reuters Locations: Macao, Singapore, Los Angeles , California

☆ Here are Thursday's biggest analyst calls: Tesla, Netflix, Best Buy, Amazon, First Solar, Disney & more
▼ + stars: | 2023-10-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"Based on our analysis, we see FIS as undervalued at 9x '24 P/E and upgrade to Overweight from Equal Weight." "We upgrade shares of KTB to Buy from Neutral and see 22% upside to our new $56, 12-month price target. Goldman Sachs upgrades Best Buy to buy from neutral Goldman said it sees multiple expansion for the electronic retailer. Can a 'growth stock' work if earnings don't grow in 2024? JPMorgan upgrades First Solar to overweight from equal weight JPMorgan said it sees an attractive entry point for the solar company.

Persons: Goldman Sachs, Goldman, Lee, Morgan Stanley, Tesla, Oppenheimer, it's bullish, Jefferies, CrowdStrike, we've, outperforming ytd, Bernstein, Disney, Wells Organizations: Street, Barclays, Fidelity National Information Services, Brands, Nike, Netflix, Disney, ESPN, Citi, Microsoft, UW, NA, Deutsche Bank, Starbucks, Deutsche, Bank of America, of America, JPMorgan Locations: destocking, Mexico, Wells Fargo, China, OW, Aptiv

☆ Bank of America's top 5 stocks for safety and security in a dangerous world
▼ + stars: | 2023-10-09 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Security is becoming increasingly crucial around the world, and Bank of America thinks investor portfolios can benefit from owning certain names. The bank on Monday released its "Future Security" primer, examining stocks through a lens of safety. Information security company CyberArk Software also made the list. CYBR YTD mountain CyberArk YTD "CyberArk is the clear leader within the PAM [privileged access market] market, with a robust technological moat," Liani said. TRU YTD mountain TransUnion YTD.

Persons: Felix Tran, Benjamin Netanyahu, CrowdStrike, Tal Liani, Matt Cohen, CyberArk, Liani, BofA, Heather Balsky, Tomer Zilberman, Andrew Obin, Obin, Michael Bloom Organizations: Bank of America, Israeli, Defense, U.S . Aerospace & Defense ETF, CyberArk Software, Motorola Solutions, Motorola, North, APG Locations: Israel, U.S

Jefferies analysts wrote in a note the Federal Reserve putting the brakes on interest rate hikes has given acquirers more certainty around their funding costs, helping dealmaking. Cisco's deal valued Splunk at 7 times projected 12-month revenue, according to Jefferies. "We note that the typical security company with 20% growth trades at about 7 times (sales)," BTIG analysts wrote in a note last week. Private software companies may also be more receptive to takeovers. "A tidal wave of software M&A (is) on the horizon," Wedbush analysts wrote in a note last week.

Persons: Chuck Robbins, David Chen, Morgan Stanley, Chen, Jefferies, Keith Skirbe, Houlihan Lokey's, Milana Vinn, Anirban Sen, Anna Driver Organizations: Cisco Systems, Cisco, Crowdstrike Holdings, Microsoft, Adobe, Oracle, Francisco Partners, TPG Inc, Federal Reserve, IBM, Reuters Graphics Reuters, Jefferies, Thomson Locations: New York

☆ Top Wall Street analysts say these stocks have the best growth prospects
▼ + stars: | 2023-09-15 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five such stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Further, the company continues to invest in AI and sees huge growth potential for its AI-powered features. The analyst noted that the company achieved strong growth in new products under its Identity, Cloud, and LogScale Security Information and Event Management (SIEM) offerings. Nevertheless, he feels that this pullback has created an attractive opportunity to buy CMG stock based on multiple positive catalysts that could emerge in the months ahead. Tarantino reaffirmed a buy rating on CMG stock with a price target of $2,400.

Persons: Wall, TD Cowen, Shaul Eyal, Zscaler, Eyal, Needham, Alex Henderson, Henderson, TipRanks, Baird, David Tarantino, Tarantino, LULU, Robert Drbul, Lulu, Drbul Organizations: Nasdaq, Investments, CrowdStrike, Security, Management, Charlotte, Microsoft, Grill, Lululemon Athletic, Guggenheim, Acushnet Locations: cybersecurity, Mexican, North America, China, Greater China

☆ SentinelOne raises full-year forecast, adds partnership with Wiz still on
▼ + stars: | 2023-08-31 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 31 (Reuters) - SentinelOne Inc (S.N) raised its annual revenue forecast on Thursday, riding on resilient adoption of its AI-backed security offerings as macroeconomic fears abate. The cybersecurity company also clarified that it had just canceled a "reselling agreement" with Wiz and their partnership with the startup was still on. Startup Wiz said last week that it was considering a potential bid for SentinelOne, which has struggled to become profitable, after reports that it was considering putting itself up for sale. The Mountain View, California-based company expects revenue for the full-year to be $605 million, up from the $590 million to $600 million range it had forecast in June. The cybersecurity company also forecast revenue of $156 million for the third quarter, higher than analysts' estimate of $154.20 million.

Persons: Brendan McDermid, Tomer Weingarten, Wiz, Akshita, Shailesh Organizations: SentinelOne Inc, New York Stock Exchange, REUTERS, SentinelOne, CrowdStrike Holdings, Thomson Locations: New York City, U.S, View , California, Bengaluru

CrowdStrike shares rose as much as 10.2% to $164.41 on Thursday and was last trading at $162, up 8.59%. Okta's shares rose 17.6% to $86.50, their highest level since May. Other cybersecurity firms were also trading higher, buoyed by CrowdStrike and Okta. Multiple analysts raised their price target for the shares of CrowdStrike and Okta in reaction to the news. Austin, Texas-based CrowdStrike delivers cloud-based cybersecurity protection through its Falcon platform that is used by many large U.S. companies.

Persons: Dado Ruvic, CrowdStrike, Okta, Chibuike Oguh, Lance Tupper, Mark Porter Organizations: REUTERS, CrowdStrike Holdings, Okta Inc, Wall, Zscaler Inc, Nasdaq, Palo Alto Networks, Thomson Locations: CrowdStrike, Austin , Texas, U.S, San Francisco, New York

☆ These are the top 10 things to watch in the stock market Thursday
▼ + stars: | 2023-08-31 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Our top 10 things to watch Thursday, Aug. 31 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Marlena Sloss | Bloomberg | Getty ImagesOur top 10 things to watch Thursday, Aug. 31

Persons: we're, OKTA, CRWD, Stanley Black, Decker, Nvidia's, Jim Cramer's, Jim Cramer, Jim, Jan, Marlena Sloss Organizations: Broadcom, Dollar, Costco, UBS, Management, Nvidia, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Washington, San Francisco

☆ CrowdStrike lifts forecast for annual revenue, profit on resilient cybersecurity demand
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

CrowdStrike raised its annual revenue outlook to a range of $3.03 billion to $3.04 billion, up from its earlier forecast of between $3 billion and $3.04 billion. It expects adjusted profit per share for the Aug-October period at 74 cents, above estimates of 61 cents per share. Rival Palo Alto Networks forecast annual billings above market estimates earlier in August, as demand for its integrated cybersecurity offerings surged. CrowdStrike posted revenue of $731.6 million for the second quarter ended July 31, beating estimates of $724.1 million. Its adjusted profit per share came in at 74 cents, also ahead of estimates of 56 cents per share.

Persons: CrowdStrike, Jaspreet Singh, Shailesh Organizations: CrowdStrike Holdings, Global, Thomson Locations: Austin , Texas, billings, Bengaluru

☆ Here are Monday's biggest analyst calls: Tesla, Netflix, Disney, Amazon, Alphabet, Nike, Costco & more
▼ + stars: | 2023-08-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS reiterates Netflix as buy UBS said it's standing by its buy rating on shares of the streaming giant. Morgan Stanley reiterates Ambarella as overweight Morgan Stanley said it's bullish on shares of the semiconductor company heading into earnings this week. " UBS reiterates Disney as buy UBS said it's standing by its buy rating on shares of the entertainment giant. Morgan Stanley downgrades CrowdStrike to equal weight from overweight Morgan Stanley said it's cautious heading into earnings later this week. Morgan Stanley names LifeStance Health Group a top pick Morgan Stanley said shares of the behavioral health company are compelling.

Persons: Tesla, Canaccord, it's bullish, it's, Morgan Stanley, Ambarella, JMP, Piper Sandler, Piper, Bernstein, L3Harris, Evercore, Jefferies, Morgan Stanley downgrades CrowdStrike, Zimmer, BTIG, Wells, Dwight, Truist, Wolfe, Stifel, defensives Organizations: UBS, Netflix, Disney, Pagaya Technologies, MCW, OW, JetBlue, " Bank of America, Bank of America, Akero Therapeutics, RBC, Tetra Tech, Tech, Amazon, LifeStance Health, Mobility, UGI Corporation, TAM, Nike, NIKE, Endeavor Group, Media, Entertainment, Costco, AutoZone, Walmart Locations: China, Underperform, ORLY

☆ Morgan Stanley downgrades CrowdStrike ahead of earnings
▼ + stars: | 2023-08-28 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Morgan Stanley is worried about CrowdStrike ahead of the company's latest earnings report this week. "Another cut to consensus CY23/24 annual recurring revenue estimates seems likely, while risk-reward seems more balanced now." CrowdStrike, which is set to report earnings Wednesday after market close, has gained more than 23% in the past six months. Amazon Web Services, which CrowdStrike's largest go-to market partner and accounts for 10% of its annual recurring revenue, Limited upside in free cash flow: Customers are increasingly desiring annual upfront payments. With management planning towards $10 billion annual recurring revenue longer term, the analyst expects necessary investment in new product categories, like security analytics, that should result in modest operating leverage over the next few years.

Persons: Morgan Stanley, Hamza Fodderwala, Fodderwala, CNBC's Michael Bloom Organizations: Companies, Web Services Locations: CrowdStrike

☆ 3-Stock Lunch: MMM, AMGN & CRWD
▼ + stars: | 2023-08-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: MMM, AMGN & CRWDDanielle Shay, Simpler Trading VP of options, joins ‘Power Lunch’ to discuss three stocks: 3M, Amgen and Crowdstrike.

Persons: Danielle Shay Organizations: AMGN

☆ Here are 2 major themes to watch in the week ahead after Friday's market rally
▼ + stars: | 2023-08-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

As August is known to be, it's been a rough month-to-date for all three of those stock market benchmarks so far. This past week, the overall market was oversold, according to Jim Cramer's trusted S & P Oscillator. After Friday's strong finish, we'll see if the market's oversold condition abates as two major themes play out in the week ahead: Earnings from two Club names — Salesforce (CRM) and Broadcom (AVGO) — and key economic reports ahead of September's Fed meeting. Outside of the labor market and inflation, we'll also get a look at the housing market with the pending home sales on Wednesday. As we heard from fellow Club name Palo Alto Networks (PANW) last week, companies are growing more cautious and more closely scrutinizing large sales deals.

Persons: Jerome Powell's, Powell, it's, Jim Cramer's, Friday's, —, It's, we've, we'll, we're, Salesforce, AVGO, We're, Brown, Forman, Campbell Soup, LULU, Jim Cramer, Jim, Angela Weiss Organizations: Nasdaq, Federal, Nvidia, Dow Jones, Broadcom, Fed, Labor, Club, Palo Alto Networks, VMWare, HEICO Corporation, Bank of Montreal, BMO, Bank of Nova, Hewlett Packard Enterprise, HP, PVH Corp, Patterson Companies, Veeva Systems, UBS, Academy Sports, Hormel, Signet Jewelers, Dell Technologies, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Jackson Hole , Wyoming, China, Bank of Nova Scotia, New York City

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. If the yield on the 10-year note, last up at 4.298%, crosses 4.338%, it would hit its highest level since 2007. Bruised growth stocks edged higher, with Tesla (TSLA.O) rising 3.1% in premarket trading on Monday to lead the advance. Nvidia earnings will be a major test for this year's stock market rally, which has been fueled by optimism around the potential for artificial intelligence. ET, Dow e-minis were up 105 points, or 0.3%, S&P 500 e-minis were up 20.5 points, or 0.47%, and Nasdaq 100 e-minis were up 103.25 points, or 0.7%.

Persons: Brendan McDermid, Jackson, Jerome Powell, Rick Meckler, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Alto Networks, Broadcom Futures, Dow, Nasdaq, Nvidia, Reserve, Federal, Cherry Lane Investments, Reuters Graphics Reuters, Traders, HSBC, Dow e, Palo Alto Networks, CrowdStrike Holdings, VMware, Thomson Locations: New York City, U.S, Jackson, Wyoming

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. If the yield on the 10-year note, last at 4.296%, crosses 4.338%, it would hit its highest level since 2007. Investors are now keenly waiting for comments from Federal Reserve Chair Jerome Powell on Friday at a meeting of central bankers at Jackson Hole in Wyoming that begins on Aug. 24. "The Jackson Hole symposium will be key to assess Powell's dovishness meter. Nvidia earnings will be a major test for this year's stock market rally, which has been fueled by optimism around the potential for artificial intelligence.

Persons: Brendan McDermid, Jerome Powell, Jackson, Charu Chanana, Amruta Khandekar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Alto, Broadcom Futures, Dow, Nasdaq, Nvidia, Strong, Reserve, Federal, Saxo Markets, Reuters Graphics Reuters, Traders, HSBC, Dow e, Palo Alto Networks, CrowdStrike Holdings, VMware, Thomson Locations: New York City, U.S, Jackson, Wyoming

Signage and cars are displayed in honor of SentinelOne, a cybersecurity firm’s IPO, outside the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2021. SentinelOne has hired investment bank Qatalyst Partners to advise on discussions with potential acquirers, including private equity firms, the sources said. Private equity firms have been prolific investors in the cybersecurity sector. In November 2021, an investor consortium led by private equity firm Advent International acquired McAfee Corp for $14 billion. Tech-focused private equity firm Thoma Bravo has also been a serial acquirer in the sector, having bought Ping Identity, ForgeRock, Sailpoint Technologies and Magnet Forensics Inc, among others.

Persons: Brendan McDermid, SentinelOne, Qatalyst, SentinelOne's, Daniel Loeb's, Morgan Stanley, Thoma, Milana Vinn, Anirban Sen, Conor Humphries, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, SentinelOne, Qatalyst Partners, CrowdStrike Holdings, U.S ., Tiger Global, Sequoia Capital, Insight Partners, Redpoint Ventures, Advent International, McAfee Corp, Tech, Thoma Bravo, Sailpoint Technologies, Magnet Forensics, Thomson Locations: New York City, U.S, View , California, New York, Israel, cybersecurity

☆ Palo Alto shares jump as rosy forecast soothes slowdown fears
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

Aug 21 (Reuters) - Palo Alto Networks (PANW.O) surged 12% on Monday after its dominant position in the cybersecurity market helped power a strong forecast, cheering investors worried about possible weakness after it chose a rare summer Friday for its earnings. Palo Alto Networks had declined nearly 17% ahead of earnings this month. Palo Alto's shares outperform cybersecurity peersBut as enterprise budgets tighten and threats of cyber attacks intensify, more businesses are turning to larger players like Palo Alto Networks that serve as one-stop shops for a variety of cybersecurity solutions. "We walk away confident about the company's ability to consolidate enterprise security spend and outgrow peers with strong profitability," RBC Capital Markets analysts said. Palo Alto trades at more than 41 times the consensus earnings for the next 12 months, compared with 52.56 for CrowdStrike and 34.19 for Fortinet.

Persons: billings, Akash Sriram, Pooja Desai Organizations: Palo Alto Networks, Rivals CrowdStrike Holdings, Wedbush Securities, RBC Capital Markets, Fortinet, Thomson Locations: Alto, Palo, CrowdStrike, Bengaluru

[1/2] Miniatures of people with computers are seen in front of North Korea flag in this illustration taken July 19, 2023. North Korea has previously denied organizing digital currency heists, despite voluminous evidence - including U.N. reports - to the contrary. “North Korea in my opinion is really stepping up their game,” said Hegel, who works for U.S. firm SentinelOne. The cybersecurity-focused podcast Risky Business earlier this week cited two sources as saying that North Korea was a suspect in the intrusion. "I don't think this is the last we'll see of North Korean supply chain attacks this year," he said.

Persons: Dado Ruvic, ”, JumpCloud, CrowdStrike, Adam Meyers, Tom Hegel, wasn't, Hegel, cryptocurrency, Chainalysis, CrowdStrike's Meyers, Christopher Bing, Raphael Satter, James Pearson, Michelle Nichols, Anna Driver, Bernadette Baum Organizations: REUTERS, WASHINGTON, American IT, Reuters, CrowdStrike Holdings, North, United Nations, U.S, FBI, Thomson Locations: North Korea, Korean, American, Louisville , Colorado, North Korean, New York, Korea, “ North Korea, The U.S, Washington, London

☆ Three-Stock Lunch: BX, CRWD & APTV
▼ + stars: | 2023-07-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: BX, CRWD & APTVAri Wald, Oppenheimer managing director, joins 'Power Lunch' to discuss three stocks: Blackstone, Crowdstrike and Aptiv.

Persons: APTV Ari Wald, Oppenheimer

☆ Morgan Stanley says 4 cybersecurity giants will benefit from a $30 billion A.I. trend
▼ + stars: | 2023-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Morgan Stanley has named four cybersecurity stocks it expects to gain from the increasing use of artificial intelligence. The investment bank said Palo Alto Networks , Microsoft , Fortinet , and CrowdStrike are set to benefit from a potential $30 billion opportunity AI is expected to unlock in cybersecurity. This trend indicates that there could be a cybersecurity workforce shortage of around 3.4 million people, according to the ISC. They calculated their estimated $30 billion opportunity by talking to more than 20 chief investment security officers and IT security experts. They found that tasks that can be automated currently occupy between 20-40% of a security analyst's time.

Persons: Morgan Stanley, Mogan Stanley, Hamza Fodderwala, PANW, FTNT Organizations: Palo Alto Networks, Microsoft, Information, ISC Locations: Palo, cybersecurity

☆ SentinelOne's disappointing forecast slams shares
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Shares of the company sank 37% before the bell on Friday and were set to open at their lowest level in about six months. The stock could erase most of the 42% rise it has posted so far this year, if losses hold through regular trading. The median price target on the stock is now $18, which is 13% lower than its last closing price. Factors other than a weak economy seem to be impacting SentinelOne, said BTIG analysts, downgrading the stock to "neutral". Some brokerages pointed to competitive pressure from the likes of Microsoft Corp (MSFT.O) and larger peer CrowdStrike Holdings Inc (CRWD.O).

Persons: SentinelOne, Akash Sriram, Pooja Desai Organizations: SentinelOne Inc, Palo Alto Networks, Microsoft Corp, CrowdStrike Holdings, Guggenheim, Thomson Locations: Palo, Bengaluru

☆ Here's what earnings from industry rivals mean for two Club names
▼ + stars: | 2023-06-01 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

And that's what we care most about as investors in the cybersecurity industry since February, when we first took a position in Palo Alto . "We don't see the demand for cybersecurity slowing down.," Palo Alto CEO Nikesh Arora told CNBC Thursday. Palo Alto last week delivered a quarterly beat, while raising its full-year earnings guidance . We prefer Palo Alto over CrowdStrike for multiple reasons, including the former's profitability profile, its leading multi-platform approach and Arora's deft leadership. With ample growth still ahead, we're staying long Palo Alto.

Persons: Palo, Nordstrom, Macy's, Jeff Gennette, Gennette, Wednesday's, Erik Nordstrom, —, CrowdStrike, Burt Podbere, Podbere, Nikesh Arora, we're, Jim Cramer's, Jim Cramer, Jim, Daniel Acker Organizations: Nordstrom, TJX Companies, Palo Alto Networks, Marshalls, Palo, CNBC, Palo Alto, TJ Maxx, Bloomberg, Getty Locations: New York, U.S, Palo Alto, CrowdStrike, Peoria , Illinois

☆ Here are Wednesday's biggest analyst calls: Apple, Nvidia, Chevron, Amazon, Avis, SeaWorld & more
▼ + stars: | 2023-05-31 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Needham initiates Sovos Brands as buy Citi said Sovos' Brands Rao's Tomato Sauce will be a $1 billion brand in the next three-to-four years. " Citi reiterates Anheuser-Busch InBev as buy Citi said investors should buy the dip in the beer giant. Deutsche Bank upgrades Avis to buy from hold Deutsche said the rental car company that it has upside potential. "In a tougher recession and sharp travel fall-off where revenue growth is cut in half, we estimate mid to high single digit EPS risk, implying an excellent risk/reward given valuation. Citi reiterates Nvidia as buy Citi said investors should "stay long" in shares of Nvidia.

Persons: Needham, Sovos, Michael Angelo's, Bernstein, Wedbush, it's, Goldman Sachs, Goldman, Bud, Baird, Mobileye, XYL, Wells, Key, AMBA, Mizuho, Piper Sandler, Piper Organizations: Brands, Citi, Amazon, Worldwide, Conference, SeaWorld, Anheuser, Busch InBev, Deutsche Bank, Avis, Deutsche, UBS, American Express, American, Palo Alto Networks, JPMorgan, Chevron, Service, Nvidia, TAM, Liberty, Microsoft Locations: US, Noosa, Cupertino, European, Wells Fargo, CrowdStrike, Zscaler, Palo, America, F2023E

☆ CrowdStrike raises full-year revenue, profit forecasts
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

May 31 (Reuters) - CrowdStrike Holdings Inc (CRWD.O) raised its annual forecast for revenue and profit on Wednesday, as spending on cybersecurity products stays strong in a turbulent economy. The company expects 2024 revenue in the range of $3 billion and $3.04 billion, compared with its previous forecast of $2.96 billion and $3.01 billion. Excluding items, the company expects 2024 net income per share of $2.32 and $2.43, compared with $2.21 and $2.39 projected earlier. Analysts on average expect 2024 revenue of $3 billion, according to Refinitiv data. Reporting by Vansh Agarwal in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Vansh Agarwal, Shilpi Majumdar Organizations: CrowdStrike Holdings, Thomson Locations: Austin , Texas, Bengaluru

Looking ahead, investors this week will be laser-focused on Washington, as Congress prepares to vote on a bill to raise the U.S. debt ceiling . But the shortened trading week ahead still features some key earnings and economic data. ET: S & P/Case Shiller home price index (March) 10 a.m. ET: Employment report: Non-farm payrolls and jobless rate (May) Looking back Last week, three Club holdings reported earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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