![]() ![]() The company raised full year revenue guidance to $957 million, at the mid-range, for growth of 46%. I/O FundĬloudflare company reported 54% revenue growth, beating estimates by 3%, with 49% growth expected next quarter. ![]() The analyst said, “ CrowdStrike (CRWD) is seeing further adoption based on conversations with Chief Information Officers and is seeing 100% growth from its non-endpoint offerings, which now account for 15% of its annual recurring revenue, showing that its total addressable market could be $30B bigger than first thought.”Ĭloudflare company reported 54% revenue growth, beating estimates by 3%, with 49% growth expected. Morgan Stanley analyst Hamza Fodderwala upgraded the stock to overweight from equal weight. Similarly, the adjusted net income from a mid-point guidance of $262.4 million to $289 million. It also raised guidance of adjusted income from operations from a midpoint of $300.5 million to $312.2 million. This company has an impressive cash flow margin of 32%.Ĭrowdstrike also raised revenue guidance for FY 2023 ending January to $2.19 billion to $2.21 billion from the earlier guidance of $2.13 billion to $2.16 billion, representing a YoY growth of 52% at the mid-point of the revised guidance. Revenue accelerated by 61% YoY to $487.8 million and annual recurring revenue (ARR) also accelerated by 61% YoY to $1.92 billion. He believes a meaningful runway exists for the company.ĬrowdStrike stole the show this quarter with a beat on both top and bottom line but it was the raised guidance line that stood out. He said, “Zscaler reported strong Q3 results, with revenue growth greatly surpassing consensus estimates and operating margins and billings also exceeding consensus. Zscaler has a free cash flow margin of 15% and management expects this to expand to a free cash flow margin of 20% for the full-year ending July 2022.Ĭredit Suisse analyst Phil Winslow lowered the company’s price target to $310 from $410 and kept an Outperform rating. The growth was led by the strong adoption of the company’s Zero Trust Platform. It was the seventh consecutive quarter of above 50% growth. Zscaler’s Q3 FY 2022 revenue accelerated by 63% YoY to $286.8 million in the recent quarter. ![]() Source: YCharts and Investor Relations I/O Fund This is coupled with a beat on the bottom line across all major cybersecurity stocks with both Crowdstrike and Palo Alto Networks proving the sector can be profitable and also increase cash efficiency at scale. This quarter, we saw on average a 5% top line beat above guidance across major cybersecurity stocks, including Crowdstrike, Okta, SentinelOne and Zscaler. We feel not losing site of opportunities during selloffs is how generational wealth is built. We had stated on Fox Business News that a small cohort of companies emerged this past quarter to increase the top line while also reporting narrowing losses on the bottom line. Cybersecurity Stocks Report Strong Q1 Earnings The increasing use of the digital world increases cybercrime, which increases enterprises' spending on cybersecurity. The report mentions that rapid technological advancement is driving the shift to cloud-based solutions. A high level of composability would help an enterprise recover faster and potentially even minimize the effects of a cybersecurity incident.Īccording to Global Market Insights, the cybersecurity market is expected to reach $400 billion by 2027 from $170 billion in 2020, representing a compound annual growth rate (CAGR) of 15% during this period. Monika Sinha, VP at Gartner, said, “There is a continued need to invest in cybersecurity as the environment becomes more challenging.
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