CrowdStrike partners with HPE, Cloudflare, and NVIDIA to enhance cybersecurity capabilities

From Nasdaq: 2024-06-19 10:32:00

CrowdStrike (CRWD) partners with Hewlett Packard Enterprise (HPE) to integrate HPE GreenLake and OpsRamp AIOps with its Falcon cybersecurity platform. This collaboration offers customers a unified cloud-based platform with AI integration and robust cybersecurity features. CRWD shares have surged 52.5% this year, outperforming the Zacks Internet Software industry’s growth.

OpsRamp focuses on simplifying AI application development, while HPE GreenLake provides cloud-like flexibility to data centers. The collaboration enables customers to monitor and automate tasks for systems using NVIDIA’s accelerated computing stack. Enterprises can leverage HPE GreenLake to accelerate generative AI adoption in their endpoints, data centers, and cloud.

CrowdStrike partners with Cloudflare and NVIDIA to enhance product capabilities. The integration of Cloudflare One Zero Trust protection and CRWD’s Falcon Next-Gen SIEM improves security for joint channel partners. By merging Falcon platform data with NVIDIA’s AI pipelines, shared customers can create custom, secure generative AI models. CRWD’s revenue for fiscal 2025 is expected to grow by 30.8% year-over-year, with non-GAAP earnings projected to increase by 28.8%.

Despite strong partnerships and solid financial performance, CrowdStrike’s near-term prospects might be impacted by softening IT spending amid macroeconomic uncertainties. The company holds a Zacks Rank #5 (Strong Sell) and its valuation appears stretched, with a one-year forward P/E ratio of 90.37 compared to the industry average of 33.81. Investors may want to refrain from investing in CRWD at current levels.

CrowdStrike’s diversified portfolio, strong partners, and growing clientele position it as a key player in the cybersecurity space. Despite short-term challenges, the company’s growth potential remains promising in the long run. However, caution is advised due to macroeconomic headwinds affecting IT spending. Investors should monitor market conditions and CrowdStrike’s performance closely.



Read more at Nasdaq: CrowdStrike (CRWD) Expands Its Cloud and AI Capabilities