PREVIEW: CrowdStrike seen reporting 25% rev growth, lower earnings
** Shares of CrowdStrike CRWD.O recently flat on Tues ahead of cybersecurity firm's qtrly report due after the bell, as investors await an update on co's progress since its software sparked a global tech outage in Jul
** In late Aug, CRWD cut its rev and earnings forecasts in the aftermath of the outage, which paralyzed Microsoft's MSFT.O Windows operating system, and said the environment would remain challenging for about a year
** Wall Street anticipates CRWD to post 25% y/y rev growth to $982.36 mln and adj EPS of 81 cents, a penny lower than a yr-ago, per LSEG
** In preview note on Mon, BTIG, which rates CRWD 'neutral', said it is "more cautious than most" since the outage
** "Our checks on this issue lead us to believe that CRWD will face delays with new customers and that existing customers may ask for larger discounts on renewals," BTIG wrote
** Guggenheim, which also rates stock 'neutral', said in recent note its checks reflect outage effects linger and new business impacted, though added conversations with customers and partners show co "may recover from this situation more quickly than we would have expected"
** At least a dozen brokerages have boosted their PTs over the past week, per LSEG; median PT of $337 up from $325 on Oct 26
** Of 52 analysts covering CRWD, recommendation breakdown is 43 "strong buy" or "buy", 7 "hold" and 2 "sell"
** CRWD shares touched all-time high of $398.33 on Jul 9, just prior to the outage, and then sank as low as $200.81 on Aug 5
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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