CrowdStrike Holdings Inc ( CRWD ) shares are trading lower Thursday after the company reported second-quarter results and issued soft revenue guidance for the third quarter. Multiple analysts lowered price targets following the print.

What Happened: Cybersecurity company CrowdStrike ( CRWD ) beat analyst estimates on the top and bottom lines in the second quarter, reporting revenue of $1.17 billion versus estimates of $1.15 billion, and adjusted earnings per share of 93 cents versus estimates of 83 cents.

Subscription revenue grew 21% year-over-year and annual recurring revenue increased 20% year-over-year after the company added $221.1 million of net new ARR in the quarter. CrowdStrike ( CRWD ) generated $283.6 million of free cash flow and ended the period with $4.97 billion in cash and cash equivalents.

CrowdStrike ( CRWD ) guided for third- quarter revenue of $1.208 billion to $1.218 billion versus estimates of $1.228 billion, and adjusted earnings per share of 93 cents to 95 cents versus estimates of 91 cents. The company also raised its full-year earnings guidance and narrowed its full-year revenue outlook.  

"As AI transforms the enterprise, CrowdStrike ( CRWD ) enables organizations to confidently embrace their AI future from development to deployment, from cloud to endpoint, and from human to agent,” said George Kurtz, founder and CEO of CrowdStrike ( CRWD ).

CrowdStrike ( CRWD ) announced plans to acquire real-time telemetry pipeline management company Onum. Terms of the deal were not disclosed, but the company said the deal is expected to evolve Falcon Next-Gen SIEM into the definitive data foundation for agentic security and IT operations.

Analyst Changes: Several analyst firms lowered price targets on CrowdStrike ( CRWD ) following the company’s quarterly results.

Needham analyst Mike Cikos maintained a Buy and lowered the price target from $530 to $475.

Rosenblatt analyst Catharine Trebnick maintained a Buy and lowered the price target from $515 to $490.

Evercore ISI Group analyst Peter Levine maintained an In-Line rating and lowered the price target from $425 to $405.

WestPark Capital analyst Casey Ryan reiterated CrowdStrike ( CRWD ) with a Hold rating.

Cantor Fitzgerald analyst Jonathan Ruykhaver reiterated an Overweight and maintained a price target of $475.

CRWD Price Action: CrowdStrike ( CRWD ) shares initially fell to around $390 in Wednesday’s after-hours session before bouncing back. The stock was down 2.74% at $411.01 at the time of publication Thursday, according to Benzinga Pro.

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