CrowdStrike (CRWD) stock jumped more than 6% on Wednesday, trading around $497, after the company launched a new mobile app designed for its network of channel partners.
CrowdStrike Holdings, Inc., CRWD
The app, called Jet, is now live on the Apple App Store and Google Play. It lets partners register a sales opportunity in under 30 seconds, track deals in real time, and access support tools — all from one place.
Before Jet, partners had to juggle multiple systems and manual workflows to get the same things done. The app consolidates all of that into a single interface.
One standout feature is CrowdCard, which converts partner earnings into cash loaded onto a reloadable card. Partners can access the funds directly through Apple Wallet or Google Wallet.
“Speed is everything — both in cybersecurity and in how business gets done,” said Daniel Bernard, CrowdStrike’s Chief Business Officer. “With Jet, we’re bringing CrowdStrike into the flow of how our partners actually work.”
Jim Finn, VP of Cybersecurity Sales at Presidio, said the app lets his team “register opportunities in seconds, track deals in real time, and get rewarded immediately.”
The market read the launch as a positive signal. Smoother partner operations could mean faster deal closings and stronger revenue growth down the line.
The Jet launch isn’t the only thing lifting sentiment around CRWD right now.
Mizuho recently upgraded the stock to Outperform from Neutral, pointing to strong demand across CrowdStrike’s platform. The firm raised its price target to $520.
Cantor Fitzgerald also lifted its target, moving it to $550 while keeping an Overweight rating. The firm highlighted CrowdStrike’s Project QuiltWorks — an AI security coalition — as a key reason for its confidence.
Project QuiltWorks recently added eight new partners, including Cognizant, Infosys, KPMG, and Tata Consultancy Services. The coalition now sits alongside existing members like Accenture and IBM Cybersecurity Services.
CrowdStrike reported $4.81 billion in revenue over the last twelve months, growing at 21.7% year-over-year. The company carries a market cap of around $121 billion.
It is currently unprofitable, posting an EPS of -$0.65. However, analysts tracked by InvestingPro expect the company to reach profitability this year.
CrowdStrike also recently launched Falcon OverWatch for Defender, a managed threat hunting service built for organizations running Microsoft Defender endpoints.
Jet is currently available by invitation to existing CrowdStrike partners. The company has not disclosed how many partners are in its ecosystem or shared expected adoption targets.
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