NEW YORK, Dec. 27, 2025, 2:26 p.m. ET — Market closed
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) heads into the final full trading week of 2025 with U.S. stock markets closed for the weekend and investors shifting their attention to what could drive the next move when the opening bell rings on Monday.
CRWD last finished regular trading at $481.19 on Friday, up about 0.86% on the day, after trading between $475.15 and $482.15. Volume was roughly 1.15 million shares, reflecting the typically lighter, holiday-adjacent tape. [1]
With no premarket or after-hours session active during the weekend, the focus for CRWD shareholders is on weekend headline risk (including cybersecurity developments), analyst commentary, and derivatives positioning that could influence sentiment before Monday’s open.
The last 48 hours: what’s new for CrowdStrike stock
1) Wedbush stays bullish on “cyber meets AI” into 2026
One of the most-discussed CRWD notes circulating into the weekend came from Wedbush, which reiterated an Outperform view and a $600 price target, framing CrowdStrike as a key beneficiary of the “cyber meets AI” theme into 2026. A Stocktwits report citing the note said analysts led by Dan Ives remain positive on deal momentum and platform adoption. [2]
In that report, the Wedbush team wrote: “CrowdStrike remains one of our favorite tech names.” [3]
The broader thrust of the commentary: AI is expanding the attack surface, pushing enterprise buyers to consolidate security tools—an environment where CrowdStrike’s Falcon platform could remain well-positioned if execution stays strong. [4]
2) Options activity drew attention on Friday
Separately, options-market scanners flagged unusually heavy activity in CRWD contracts. A Benzinga report published Friday said its scanner identified eight “unusual” options trades, with the observed flow skewing more bearish than bullish (based on its categorization), including a heavier dollar amount in puts than calls. [5]
Notably, this kind of “unusual options” coverage doesn’t prove direction by itself—large traders can buy puts as hedges, or structure multi-leg positions—but it can be a sign that investors are actively managing exposure into catalysts (or into thin liquidity periods). [6]
Nasdaq’s “most active options” page for CRWD also showed concentrated activity in near-dated contracts around commonly watched strikes during Friday’s session. [7]
3) Institutional ownership headlines were mostly about filings (not fresh buying in real time)
A chunk of the weekend’s CRWD “news” feed has been driven by institutional ownership updates tied to periodic disclosures—helpful for context, but not the same as a real-time tape signal. Several services summarized quarter-based position changes from asset managers. [8]
Insider selling context: what SEC filings actually said
Although outside the strict 48-hour window, recent SEC Form 4 filings remain part of the conversation because they help clarify whether insider selling was discretionary or administrative.
In Form 4 filings dated for Dec. 22 transactions, CrowdStrike executives reported share sales with remarks indicating the sales were made to cover tax withholdings tied to vesting of restricted stock units (RSUs)—a key distinction investors often look for when interpreting insider activity. [9]
- CEO George Kurtz reported multiple small-lot sales on Dec. 22 and the filing’s remarks stated the sales were made to cover tax withholding obligations tied to RSU vesting. [10]
- CFO Burt Podbere reported sales on the same date with the same tax-withholding/RSU language in the filing’s remarks. [11]
- President Michael Sentonas also reported a sale on Dec. 22, likewise described in the filing as tax-withholding related to RSU vesting. [12]
For investors heading into Monday, the practical takeaway is that these filings read more like routine compensation-related transactions than a discretionary “signal” call—though markets can still react to headline phrasing until the details are digested.
Fundamentals check: the numbers Wall Street is still trading off
The most important fundamental anchor for CRWD remains the company’s most recent reported quarter and its forward guidance.
In its earnings materials filed with the SEC for the quarter ended Oct. 31, 2025 (fiscal Q3 2026), CrowdStrike highlighted:
- Revenue of $1.23 billion, up 22% year over year
- Ending ARR of $4.92 billion, up 23% year over year
- Net new ARR of $265.3 million in the quarter
- Operating cash flow of $397.5 million and free cash flow of $295.9 million [13]
Management framed the backdrop as an AI-driven demand cycle. CEO George Kurtz said CrowdStrike is an “enabler of secure AI transformation,” while CFO Burt Podbere pointed to momentum in pipeline and raised full-year guidance. [14]
Guidance investors are watching into the next earnings report
From the same SEC-filed materials, CrowdStrike guided for fiscal Q4 2026 (ending Jan. 31, 2026) and lifted full-year fiscal 2026 targets, including:
- Q4 revenue: $1.29B to $1.30B
- Full-year revenue: $4.7966B to $4.8066B
- Q4 non-GAAP EPS: $1.09 to $1.11
- Full-year non-GAAP EPS: $3.70 to $3.72 [15]
Reuters’ coverage of the outlook similarly emphasized the company’s upbeat tone around AI adoption supporting demand. [16]
Product and AI narrative: why Falcon AIDR keeps showing up in the bull case
Even though it wasn’t released in the last 48 hours, CrowdStrike’s Falcon AI Detection and Response (AIDR) launch is still central to the “AI attack surface” narrative that analysts are debating.
CrowdStrike announced the general availability of Falcon AIDR on Dec. 15, 2025, positioning it as protection for AI prompt and agent interactions—an area many CISOs are just beginning to formalize controls around. [17]
That matters for the stock because the market is increasingly rewarding cybersecurity vendors that can attach new modules and ride consolidation budgets—particularly if they can show measurable ARR expansion and durable margins.
Wall Street forecasts: where consensus sits heading into Monday
On the Street’s broader view, MarketBeat’s compilation (based on analyst reports it tracks) lists CrowdStrike with a “Moderate Buy” consensus rating and an average 12-month price target of $555.10, implying upside from Friday’s close—alongside a wide dispersion between the highest and lowest targets. [18]
Meanwhile, multiple earnings calendars currently point to an expected (not company-confirmed) next earnings date around March 3, 2026. [19]
If you’re watching CRWD before the next session, here’s what matters most
With markets closed until Monday, CRWD investors typically focus on a short list of weekend-to-open variables:
- Any new analyst notes or price-target changes that could extend Friday’s “AI cyber leader” framing (or push back on valuation). [20]
- Options positioning into early-January expirations, especially if put activity continues to dominate scanner headlines. [21]
- Company-specific cybersecurity headlines (incidents, major customer wins, vulnerability disclosures). These can hit sentiment fast in the security sector, particularly when liquidity is thinner around holidays.
- The next earnings runway: guidance durability and ARR trajectory remain the two numbers investors tend to reprice quickly when new information arrives. [22]
For now, the weekend setup is straightforward: CRWD is entering Monday with a fresh dose of bullish sell-side commentary centered on AI-driven demand, while derivatives flow suggests investors are still actively hedging and price-discovering after a strong year-to-date run. [23]
References
1. www.nasdaq.com, 2. stocktwits.com, 3. stocktwits.com, 4. stocktwits.com, 5. www.benzinga.com, 6. www.benzinga.com, 7. www.nasdaq.com, 8. www.marketbeat.com, 9. www.sec.gov, 10. www.sec.gov, 11. www.sec.gov, 12. www.sec.gov, 13. www.sec.gov, 14. www.sec.gov, 15. www.sec.gov, 16. www.reuters.com, 17. www.crowdstrike.com, 18. www.marketbeat.com, 19. www.zacks.com, 20. stocktwits.com, 21. www.benzinga.com, 22. www.sec.gov, 23. stocktwits.com
