CrowdStrike Holdings Inc. (NASDAQ:CRWD) said Monday its board has approved an additional $500 million for its share repurchase program, lifting the total authorization to $1.5 billion.
Boosts Share Buyback
The company has already repurchased 413,130 shares of its Class A common stock at an average price of $364.57 per share, totaling $150.6 million under the existing program.
“We repurchased $150.6 million of shares following our record Q4 FY26, as we see a growing disconnect between our improving momentum fueled by AI tailwinds and our current valuation,” said Burt Podbere, CrowdStrike’s CFO.
“We have increased our share repurchase authorization to $1.5 billion to opportunistically return value to shareholders as we progress toward our goal of reaching $20 billion in ending ARR by FY36.”
Recent Earnings
Last month, CrowdStrike reported fourth-quarter results that topped Wall Street expectations. Revenue rose to $1.31 billion, slightly ahead of analyst estimates of about $1.30 billion, according to Benzinga Pro. Adjusted earnings came in at $1.12 per share, also beating consensus forecasts of $1.10 per share.
Annual recurring revenue (ARR) climbed 24% year over year to $5.25 billion, driven by $330.7 million in net new ARR added during the quarter.
Looking ahead, the company guided for fiscal 2027 revenue in the range of $5.87 billion to $5.93 billion, compared with estimates of $5.86 billion. It expects full-year adjusted earnings of $4.78 to $4.90 per share, roughly in line with consensus estimates of $4.82 per share.
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $499.91. Recent analyst moves include:
- Wolfe Research: Upgraded to Outperform (Target $450.00) (March 30)
- RBC Capital: Outperform (Maintains Target to $550.00) (March 17)
- Morgan Stanley: Upgraded to Overweight (Raises Target to $510.00) (March 10)
CRWD at $401.69 Above 20-Day, 100-Day SMA
At $401.69, the stock is currently trading above its 20-day and 100-day simple moving averages (SMA), suggesting a bullish short-term trend. Specifically, it is trading 10.2% above its 20-day SMA and 5.1% above its 100-day SMA, indicating strong upward momentum in both the short and intermediate term.
The stock has shown a 12-month performance of 23.05%, reflecting a solid upward trajectory over the past year. Currently, it is positioned within the 52-week range, which has a high of $566.90 and a low of $298.00, suggesting that it is trading closer to the mid-range of its yearly performance.
- Key Resistance: $452.00 — This level may act as a barrier for further upward movement.
- Key Support: $342.50 — This level could provide a safety net for buyers if tested.
CRWD ETF Weights: CIBR 6.85%, BUG 5.66%
- First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR): 6.85% Weight
- Amplify Cybersecurity ETF (NYSE:HACK): 4.57% Weight
- Global X Cybersecurity ETF (NASDAQ:BUG): 5.66% Weight
Significance: Because CRWD carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
CRWD Price Action: CrowdStrike Holdings shares were down 0.69% at $396.37 at the time of publication on Monday, according to Benzinga Pro data.
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