CrowdStrike Holdings Inc (NASDAQ: CRWD) opened about 4.0% up on Friday after announcing two new partnership – one with Cloudflare Inc (NYSE: NET) and the other with eSentire.
Details of CrowdStrike-Cloudflare partnership
The cybersecurity firm teamed up with $NET this morning to secure networks and power the AI-native SOC.
Together, the two cybersecurity firms will offer a streamlined solution aimed at lowering costs and minimising operational complexity for customers. Daniel Bernard – the chief business officer of CrowdStrike said in a press release today:
The rich dataset from our Falcon platform paired with Cloudflare’s robust Zero Trust capabilities provides unprecedented value for global customers. We’re converging two of the most critical pieces of risk management puzzle.
The news arrives only days before $CRWD is scheduled to report its financial results for the first quarter. Consensus is for it to earn 21 cents a share versus only 3 cents per share a year ago.
Ahead of its earnings report, CrowdStrike stock is up roughly 30% versus the start of 2024. It does not, however, pay a dividend at writing.
Watch here: https://www.youtube.com/embed/UfNy4yUPam8?feature=oembed
Details of CrowdStrike-eSentire partnership
CrowdStrike stock is pushing to the upside at writing also because the cybersecurity firm teamed up with eSentire last night. The announced partnership will see $CRWD’s Falcon power the managed detection and response capabilities of eSentire.
CrowdStrike is convinced that working with the MDR provider will offer enhanced protection, better intelligence, and value for money to the customers. Kerry Bailey – the chief executive officer of eSentire said in a press release today:
We see CrowdStrike’s AI-native cybersecurity platform and our 24/7 MDR as the winning combination that our customers need. I’m excited to scale new business opportunities globally as we stop breaches together.
Earlier this week, famed investor Jim Cramer agreed that investors have turned downbeat on enterprise software but said $CRWD was the “one company that seems to be immune” to all the negativity.
The Mad Money host expects CrowdStrike to report encouraging results next week as it has ever since it went public. “This company is the last remaining domino, and I don’t think that domino is going to fall”, he added.
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