Movement Alert|CrowdStrike Rises 4.69% in After-Hours Trading, Quarterly Earnings Release Coupled with Multiple Target Price Upgrades

Market Focus06-03 04:10

On June 3, CrowdStrike rose 4.69% in after-hours trading, trading at 802.02 USD/share, with trading volume of $134 million.

On the news front, the company released its latest quarterly earnings report after the close. Market consensus had projected revenue of $1.363 billion, representing 23.43% year-over-year growth, with adjusted EPS expected at $1.07, a 63% year-over-year increase. Net new ARR of approximately $275 million was flagged as the core metric to watch.

Leading into the report, multiple institutions aggressively raised their price targets. Jefferies lifted its target to $775 from $500, Evercore ISI raised its target to $710 from $395, and Wedbush raised to $700, all maintaining bullish ratings. The mean consensus target price had been steadily climbing in recent weeks.

Within the Systems Software sector, peer Palo Alto Networks surged 10.03%, reflecting broad strength in cybersecurity names. Microsoft was up 0.21%, ServiceNow gained 0.67%, while Oracle edged down 0.22%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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