CrowdStrike Q1 preview: Will the cybersecurity firm's hot streak continue?
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CrowdStrike (NASDAQ:CRWD) is scheduled to announce Q1 earnings results on Thursday, June 2nd, after market close.
The consensus EPS Estimate is $0.23 (vs. $0.10 in Q1 of FY22) and the consensus Revenue Estimate is $464.35M (+53.3% Y/Y).
The cybersecurity firm posted Q4 earnings and outlook that topped Wall Street expectations. Annual recurring revenue (ARR) came in at $1.73B, up 65% year-over-year, topping analysts' expectations for $1.68B.
At the time, CrowdStrike posted a guidance of $1.03-$1.13 in EPS and $2.13B-$2.16B in revenue for FY23.
The firm is poised to continue to benefit from the ongoing Russia-Ukraine crisis, with Wedbush Securities analyst Dan Ives suggesting "a golden age for the cybersecurity sector" in the months and years ahead.
Jefferies analyst Joseph Gallo hiked price targets on CrowdStrike and other cybersecurity stocks in April, noting that the sector is "more important than ever" and CrowdStrike is the "largest beneficiary of an increased attack environment."
Goldman Sachs also upgraded the cybersecurity firm, suggesting that fundamentals have continued to improve even as the stock has fallen over the past months. Shares are down -18.55% YTD and -27.44% in the past 12 months.
Here is a look at CrowdStrike's YTD price return performance versus peers:



Baird boosted its price target in April, just a day after the firm received Level 4 approval from the Department of Defense to deploy its Falcon cybersecurity platform to protect "critical assets."
Still, a cautious analysis by SA contributor Bradley Guichard warns that although recent competitor earnings have injected enthusiasm into the cybersecurity market, the rally could be short-lived. Another analysis from JR Research noted that investors will be looking for signs of a slowdown in cybersecurity spending.
Over the last 2 years, CRWD has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 24 upward revisions and 2 downward. Revenue estimates have seen 22 upward revisions and 0 downward.