AUSTIN, Texas & SAN FRANCISCO - In a move to bolster cybersecurity measures for organizations globally, CrowdStrike Holdings, Inc. (NASDAQ: NASDAQ:CRWD) and Cloudflare, Inc. (NYSE: NYSE:NET) have announced an expansion of their strategic partnership.
The enhanced collaboration aims to connect their platforms, improving security from device to network and expediting Security Operations Center (SOC) transformations to effectively halt breaches.
This alliance integrates Cloudflare One's cloud-native Zero Trust protection and connectivity with the AI-native cybersecurity capabilities of CrowdStrike's Falcon Next-Gen SIEM on the CrowdStrike Falcon platform. The partnership is set to simplify vendor management for joint channel partners, offering a streamlined solution that reduces costs and operational complexity for customers.
Organizations are currently grappling with fast-moving adversaries and an increasing number of threat vectors, leading to complex and potentially compromised networks. The combined offering from CrowdStrike and Cloudflare aims to address this by providing a single, integrated solution that can detect and respond to attacks across networks, devices, endpoints, cloud services, identities, data, and applications.
Daniel Bernard, Chief Business Officer at CrowdStrike, highlighted the significance of the partnership, stating that the fusion of CrowdStrike's AI-powered cybersecurity platform with Cloudflare's Zero Trust capabilities delivers unparalleled value to customers worldwide. Grant Bourzikas, Chief Security Officer at Cloudflare, echoed this sentiment, emphasizing the growing complexity of enterprise risk management and the need for robust, holistic security measures.
The collaboration leverages one of the world's largest infrastructure networks from Cloudflare, alongside CrowdStrike's leading cybersecurity platform, enabling organizations to achieve comprehensive visibility into risk signals and effectively prevent breaches.
This partnership announcement is based on a press release statement and does not include any endorsement of claims. It aims to provide a factual report on the collaboration between CrowdStrike and Cloudflare to enhance cybersecurity integration for global customers.
InvestingPro Insights
As Cloudflare, Inc. (NYSE: NET) continues to fortify its position in the cybersecurity sector through strategic partnerships such as the one with CrowdStrike, investors and industry observers are keeping a close eye on the company's financial health and market performance. Here are some key metrics and insights from InvestingPro that shed light on Cloudflare's current standing:
InvestingPro Data:
- Market Cap (Adjusted): Cloudflare boasts a substantial market capitalization of 25.55 billion USD, reflecting its significant presence in the cybersecurity industry.
- Gross Profit Margin (last twelve months as of Q1 2024): With a gross profit margin of 76.78%, Cloudflare demonstrates its ability to maintain a high level of profitability relative to its revenue, which is particularly impressive for a company in the competitive tech sector.
- Revenue Growth (last twelve months as of Q1 2024): The company has experienced a robust revenue growth of 31.51%, signaling strong market demand for its services and potential for continued expansion.
InvestingPro Tips:
- Net income is expected to grow this year, according to InvestingPro insights, indicating a positive outlook for Cloudflare's profitability in the near future.
- Additionally, 16 analysts have revised their earnings upwards for the upcoming period, suggesting that there is a consensus among experts on the company's potential for improved financial performance.
For those interested in gaining deeper insights and more InvestingPro Tips, Cloudflare has a total of 13 tips available on https://www.investing.com/pro/NET. These tips can provide valuable guidance for investors considering Cloudflare's stock. To access these insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with expert analysis and real-time data.
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