PREVIEW: CrowdStrike revenue seen up 20% yr/yr in report due after market close

CrowdStrike's CRWD.O shares up 2% at $514.37 on Tues with cybersecurity firm's fiscal Q3 results due after the bell

For quarter-end Oct, analysts expect CRWD's revenue to increase ~20% yr/yr to $1.2 bln and adj EPS of 94 cents vs 93 cents/sh a yr ago, according to LSEG data

JP Morgan, which rates CRWD 'overweight', hiked its PT by $80 to $580 over the weekend

"Industry and partner conversations point to substantial Falcon Flex traction supporting sequential NNARR (net new annual recurring revenue) growth potentially above the high-single-digit sequential growth levels the company had guided to," JP Morgan wrote in preview note

Operating margins "should benefit meaningfully" as CRWD laps the anniversary of last year's Windows outage, JPM analysts said

In Sept, CRWD provided an out-year NNARR forecast target of 20%-plus at its annual Fal.con conference

Wedbush on Mon maintained 'outperform' rating and $600 PT, saying it expects a strong quarter, citing that CRWD is still in the early stages of capitalizing on the "AI Revolution" market opportunity

Of 54 brokerages covering CRWD, recommendation breakdown is 33 "strong buy" or "buy", 19 "hold" and 2 "sell" or "strong sell" ratings

Median PT of $545 up from $510 a month ago and $475 on Sept 2

CRWD recently traded at around 110x fwd earnings. The peer mean is about 45x, with Palo Alto Networks PANW.O at roughly 47x, per LSEG Datastream

With the move on Tues, CRWD shares up ~50% YTD, outpacing S&P 500 Tech sector's .SPLRCT 25% advance and S&P 500's .SPX 16% climb in 2025