Cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD) is set to report earnings after the bell and one investor is expecting strong results.
What To Know: Analysts expect CrowdStrike to report $463.27 million in revenue and earn 23 cents per share, according to data from Benzinga Pro.
Ritholtz Wealth Management's Josh Brown is anticipating strong numbers, similar to what Crowdstrike has delivered in the past.
"Last quarter, they beat on revenue, they beat on earnings, they guided higher," Brown recalled Thursday on CNBC's "Fast Money Halftime Report."
Although he acknowledged that CrowdStrike shares are still expensive, the stock has come down significantly and is trading at 16 times revenue.
"That is the cheapest that this stock has been in three years," Brown emphasized.
The main reason for the slide is the market environment. CrowdStrike has fallen alongside almost "every other tech stock under the sun," he said.
"But they keep producing, they keep performing. So I'm staying long, hoping for a good reception. I think the numbers will be good," Brown said.
CrowdStrike is scheduled to announce its first-quarter financial results after the market closes Thursday.
See Also: The U.S. Government Spending Bill Allocates $2.6 Billion To Bolster Cybersecurity
CRWD Price Action: CrowdStrike has traded between $130 and $298.48 over a 52-week period.
The stock was up 7.69% at $173.86 at press time ahead of earnings.
Photo: courtesy of CrowdStrike.
