CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are moving higher in extended trading on Tuesday following strong quarterly results from cybersecurity peer Palo Alto Networks (NASDAQ:PANW).
CrowdStrike Holdings stock is approaching key resistance levels.
Why are CRWD shares at highs?
Palo Alto Reports Beat-And-Raise Q3 Palo Alto beat estimates on the top and bottom lines in the third quarter, reporting revenue of $3 billion versus estimates of $2.94 billion, and adjusted earnings per share of 85 cents versus estimates of 80 cents.
The cybersecurity giant highlighted accelerating organic bookings growth due to AI-related demand and noted that AI advancements are reshaping the broader cybersecurity industry.
