This post was originally published on this site
CrowdStrike Holdings Inc. shares skyrocketed in the extended session Thursday after the cybersecurity company’s results and outlook topped Wall Street estimates.
CrowdStrike CRWD, +8.05% shares soared 21% after hours, following an 8.1% rise in the regular session to close at $41.74. The company reported a fourth-quarter loss of $28.4 million, or 14 cents a share, compared with $31.2 million, or 67 cents a share, in the year-ago period. After adjusting for stock-based compensation and the amortization of acquired intangible assets, the adjusted loss was 2 cents a share.
Revenue rose to $152.1 million from $80.5 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast an adjusted loss of 8 cents a share on revenue of $137.8 million, while CrowdStrike had forecast an adjusted loss of 9 cents to 8 cents a share on revenue of $135.9 million to $138.6 million in the fourth quarter.
Read: Hackers are using coronavirus concerns to trick you, cybersecurity pros warn
Annual recurring revenue, a Software-as-a-Service metric that shows how much revenue the company can expect based on subscriptions, surged 92% to $600.5 million for the quarter, while the Street expected $559 million.
CrowdStrike expects an adjusted loss of 7 cents to 6 cents a share on revenue of $164.3 million to $167.6 million for the first quarter, and a loss of 14 cents to 10 cents a share on revenue of $723.3 million to $733.5 million for the year. Analysts had forecast a loss of 8 cents a share on revenue of $148.9 million for the first quarter, and a loss of 18 cents a share on revenue of $678.5 million for the year, according to FactSet.
“Looking into fiscal 2021 and beyond, the powerful combination of our cloud-native platform and frictionless go-to-market positions us well as the fundamental endpoint platform for the future,” CrowdStrike co-founder and Chief Executive George Kurtz said in a statement.
Of the 21 analysts who cover CrowdStrike, 16 have overweight or buy ratings, four have hold ratings, and one has a sell rating, with an average price target of $72.35, according to FactSet data.
The ETFMG Prime Cyber Security ETF HACK, +2.80% closed up 4.1% Thursday, the S&P 500 index SPX, +0.47% rose 0.5%, and the tech-heavy Nasdaq Composite Index COMP, +2.30% rallied to finish up 2.3% for the session.
