CrowdStrike Holdings Inc (NASDAQ:CRWD) provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data.
The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation, response, and AI powered workflow automation, and securing generative AI workload services. It primarily sells subscriptions to its Falcon platform and cloud modules.
CRWD Q3 2024 reports earnings at 4:05 PM ET Monday, Nov 26, 2024
- Put/Call ratio for Nov. 29 expiry is 1.2949% more puts than calls which suggests the following three scenarios:
- Put/Call ratio is around 0.904 to 1.3459 for the next three upcoming expiries suggest that the traders are more bearish than bullish.
- Earning miss or lower guidance could trigger a short-lived sell-off followed by a slow rally.
- Earning and guidance in line or better than estimates may trigger a sharp rally due to traders’ bearish expectations.
Key Highlights:
- CrowdStrike has consistently demonstrated impressive subscription-based revenue and financial performance.
- A key focus will be on the company’s recovery from July 19 outage. Though the customer retention is strong.
- Cybersecurity remains a key theme going forward into 2025 with companies increasing focus and spending.
- Adaption of a channel-centric sales model helps facilitate client acquisition process, improving account coordination, and developing sales and overall market.
Technical Analysis Perspective:
- CRWD is holding a rising trendline from August 05, 2024, low this week sitting between 350 -327 mark.
- Prices are heading to 440 – 450 medium to long term target, which is the upward trendline from March 2024 high.
- CRWD is hovering between the upside earnings price gap in June 2024 between 367 to 349.
- Prices need to break 367 to 370 resistance zone to march towards 440 to 450 medium term targets.
- Stock needs to hold 350 to 327 base pre and post Q3 earnings volatility.
- CRWD closes 7.8% higher in November 67% of the time since 2019.
Conclusion:
CRWD needs to hold 350 to 327 support base in order to attain medium to long term 440 to 450 upside target.