CrowdStrike posted Q1 revenue of $1.385 billion and raised its full-year outlook, exceeding Wall Street estimates.
CrowdStrike Holdings Inc (NASDAQ:CRWD) reported first-quarter fiscal 2027 earnings that surpassed analyst expectations, driving Wedbush to raise its price target to $720 from $700. The company’s revenue reached $1.385 billion, above the $1.360 billion consensus, while non-GAAP operating margin hit 23.5%, clearing the 22.7% estimate.
Total annual recurring revenue (ARR) grew 24% year-over-year to $5.51 billion, slightly above the $5.50 billion forecast, supported by net new ARR of $255.8 million. Earnings per share of $1.10 also beat the $1.07 estimate. CrowdStrike’s AI-driven products saw strong momentum, with AIDR platform ARR rising over 250% quarter-over-quarter.
Despite the beat, CrowdStrike shares fell 5.4% on Thursday. Wedbush maintained its outperform rating, citing the company’s leadership in cybersecurity and AI-driven demand.