12:16 PM EDT, 06/05/2024 (MT Newswires) -- CrowdStrike Holdings ( CRWD ) posted strong fiscal Q1 results and raised its fiscal year 2025 outlook despite "an increasingly mixed" software selling backdrop, RBC Capital Markets said Wednesday.

The cybersecurity company reported late Tuesday that its fiscal Q1 adjusted earnings advanced to $0.93 a share from $0.57 a year earlier, while revenue jumped 33% to $921 million, both topping market estimates.

The company now projects fiscal 2025 adjusted EPS at $3.93 to $4.03, up from its previous range of $3.77 to $3.97. It pegs revenue at $3.98 billion to $4.01 billion, compared with $3.92 billion to $3.99 billion previously estimated.

"The company continues to see success in its broader platform with emerging products, and despite a choppier macro in the broader software landscape, continues to execute and consolidate cyber wallet share," RBC said, adding that CrowdStrike ( CRWD ) exited the quarter with a record Q2 pipeline.

The brokerage maintained its outperform rating and $420 price target on the stock, saying it continues to be a "top long-term pick."

Shares of CrowdStrike ( CRWD ) were up 9.3% in recent Wednesday trading.

Price: 333.89, Change: +28.31, Percent Change: +9.26