Cybersecurity firm CrowdStrike (NASDAQ: CRWD) has twice impressed the Wall Street so far. The first time was when it went public in June by floating 18 million shares at $34 apiece, raising a total of $612 million. The stock ended its first trading day up 70%.
A month after that, it reported its maiden quarterly results, where revenues doubled year-over-year to $96.1 million, surpassing Wall Street expectation. Net loss was cut down to 47 cents per share from 73 cents a year ago. This was in line with the Wall Street projection.
CrowdStrike is currently one of the best IPO stocks so far this year, with till-date returns at a massive 147%. As it suggests, expectations are sky high as the company is about to report second-quarter financial results on Thursday, September 5, after the closing bell.
Analysts expect the Sunnyvale, California- based firm to report a loss of 23 cents per share, on revenues of $103.58 million. Analysts also expect to see strong growth in subscriber additions and annual recurring revenue.
The company management had, meanwhile, projected second-quarter losses in the range of 23-24 cents per share and revenues between $103 million and $104 million.
Crowdstrike had recently announced a $20 million fund to invest in startups that focus on endpoint protection, in association with venture capital firm Accel. The fund is for firms that make use of its Falcon endpoint protection platform. The developed applications will be sold through the Crowdstrike Store, launched earlier this year. Check out for any updates on this during the earnings conference call.
Crowdstrike, founded in 2011, specializes in analyzing user behavior in various devices of a network, and uses this data to identify malicious interferences and cyber threats.
According to the company, its automated threat detection solution can come up with as many as 2.3 million decisions in a second’s time. It’s software, meanwhile, is claimed to have the capacity to successfully finish over 100 billion jobs in just a day.
Rival Palo Alto Networks (NYSE: PANW) is set to report quarterly results on Wednesday.
The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,
Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a
Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss