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CrowdStrike (CRWD - Free Report) recently declared that it has received the Provisional Authorization to Operate ("P-ATO") at Impact Level 4 (“IL-4”) from the United States Department of Defense (“DoD”). This enables the company to expand its public sector footprint by deploying its Falcon cybersecurity platform to a wide range of DoD customers and Defense Industrial Base (“DIB”) customers.
The provisional authorization per the DoD's Cloud Computing Security Requirements Guide, which provides a standardized assessment and authorization process for cloud service providers, enables CrowdStrike to protect the Controlled Unclassified Information of DoD customers.
In fact, CrowdStrike is currently collaborating with the Defense Information Systems Agency to secure a DoD Impact Level 5 P-ATO and prevent the agency customers from modern cyber threats.
CrowdStrike has been benefiting from the rising demand for cyber-security solutions owing to the slew of data breaches and the increasing necessity for security and networking products amid the COVID-19 pandemic-led remote working trend. Recently, in March, the company expanded its partnership with Cloudflare. Under the agreement, Cloudflare intends to provide more powerful Zero Trust solutions to mutual customers by integrating its Zero Trust platform with CrowdStrike’s Falcon Zero Trust Assessment platform.
In an effort to avoid contracting the virus and check the spread of the same, more people are logging into employers' networks, implying a greater need for security. Per Fortune Business Insights, the worldwide cybersecurity market is projected to reach from $139.77 billion in 2021 to $155.83 billion in 2022 and $376.32 billion by 2029, witnessing a CAGR of 13.4% during the forecast period. This trend is likely to impact demand for CrowdStrike’s products positively. The Sunnyvale, CA-based company’s next-generation antivirus, EDR, and device-control products are well-poised to gain amid the thriving remote work culture.
Zacks Rank & Other Key Picks
CrowdStrike currently carries a Zacks Rank #3 (Hold). Shares of CRWD have climbed 7% in the past year.
The Zacks Consensus Estimate for ON Semiconductor’s first-quarter 2022 earnings has been revised upward by 22 cents to $1.04 per share over the past 60 days. For 2022, earnings estimates have moved 26.8% north to $4.16 per share in the past 60 days.
ON Semiconductor's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 16.3%. Shares of ON have rallied 24.4% in the past year.
The Zacks Consensus Estimate for Axcelis' first-quarter 2022 earnings has been revised 5 cents upward to 92 cents per share over the past 60 days. For 2022, Axcelis' earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.
Axcelis' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have surged 36.7% in the past year.
The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised upward by 4 cents to $2.12 per share over the past seven days. For fiscal 2022, earnings estimates have moved north by 11 cents to $8.43 per share in the past seven days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have fallen 0.6% in the past year.
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CrowdStrike (CRWD) Wins U.S DoD's Impact Level 4 P-ATO
CrowdStrike (CRWD - Free Report) recently declared that it has received the Provisional Authorization to Operate ("P-ATO") at Impact Level 4 (“IL-4”) from the United States Department of Defense (“DoD”). This enables the company to expand its public sector footprint by deploying its Falcon cybersecurity platform to a wide range of DoD customers and Defense Industrial Base (“DIB”) customers.
The provisional authorization per the DoD's Cloud Computing Security Requirements Guide, which provides a standardized assessment and authorization process for cloud service providers, enables CrowdStrike to protect the Controlled Unclassified Information of DoD customers.
In fact, CrowdStrike is currently collaborating with the Defense Information Systems Agency to secure a DoD Impact Level 5 P-ATO and prevent the agency customers from modern cyber threats.
CrowdStrike Price and Consensus
CrowdStrike price-consensus-chart | CrowdStrike Quote
CrowdStrike has been benefiting from the rising demand for cyber-security solutions owing to the slew of data breaches and the increasing necessity for security and networking products amid the COVID-19 pandemic-led remote working trend. Recently, in March, the company expanded its partnership with Cloudflare. Under the agreement, Cloudflare intends to provide more powerful Zero Trust solutions to mutual customers by integrating its Zero Trust platform with CrowdStrike’s Falcon Zero Trust Assessment platform.
In an effort to avoid contracting the virus and check the spread of the same, more people are logging into employers' networks, implying a greater need for security. Per Fortune Business Insights, the worldwide cybersecurity market is projected to reach from $139.77 billion in 2021 to $155.83 billion in 2022 and $376.32 billion by 2029, witnessing a CAGR of 13.4% during the forecast period. This trend is likely to impact demand for CrowdStrike’s products positively. The Sunnyvale, CA-based company’s next-generation antivirus, EDR, and device-control products are well-poised to gain amid the thriving remote work culture.
Zacks Rank & Other Key Picks
CrowdStrike currently carries a Zacks Rank #3 (Hold). Shares of CRWD have climbed 7% in the past year.
Some better-ranked stocks from the broader computer and technology sector are ON Semiconductor (ON - Free Report) , sporting a Zacks Rank #1 (Strong Buy), Axcelis Technologies (ACLS - Free Report) and Analog Devices (ADI - Free Report) , both carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for ON Semiconductor’s first-quarter 2022 earnings has been revised upward by 22 cents to $1.04 per share over the past 60 days. For 2022, earnings estimates have moved 26.8% north to $4.16 per share in the past 60 days.
ON Semiconductor's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 16.3%. Shares of ON have rallied 24.4% in the past year.
The Zacks Consensus Estimate for Axcelis' first-quarter 2022 earnings has been revised 5 cents upward to 92 cents per share over the past 60 days. For 2022, Axcelis' earnings estimates have moved north by 12.4% to $3.99 per share in the past 60 days.
Axcelis' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 30.3%. Shares of ACLS have surged 36.7% in the past year.
The Zacks Consensus Estimate for Analog Devices' second-quarter fiscal 2022 earnings has been revised upward by 4 cents to $2.12 per share over the past seven days. For fiscal 2022, earnings estimates have moved north by 11 cents to $8.43 per share in the past seven days.
Analog Devices' earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 6%. Shares of ADI have fallen 0.6% in the past year.