CrowdStrike Stock Price Jumps After Addition To S&P 500

The company has become one of the few pure-play cybersecurity vendors to join the benchmark index.

CrowdStrike shares surged Monday after the cybersecurity giant was added to the S&P 500 index.

As of this writing Monday morning, CrowdStrike’s stock price was up 8 percent to $376.96 a share.

Austin-based CrowdStrike has become one of the few pure-play cybersecurity vendors to gain a spot on the benchmark index. Others include Palo Alto Networks, which was added to the S&P 500 in June 2023, and Fortinet, which joined the index in October 2018.

The addition of CrowdStrike to the S&P 500 comes after the company last week released the results for the first quarter of its fiscal 2025, ended April 30, which breezed past Wall Street expectations for both revenue and earnings.

Revenue grew 33 percent during the quarter from the prior year, reaching $921 million and beating the analyst consensus estimate of $904.6 million. The company also increased its fiscal year 2025 revenue guidance.

As CrowdStrike has expanded its cloud-native cybersecurity platform to new areas such as cloud security, identity protection and security operations, the company has grown well beyond its roots as a trailblazing endpoint detection and response (EDR) vendor.

Notably, CrowdStrike executives such as Co-founder and CEO George Kurtz have been vocal about distinguishing the company’s platform consolidation strategy from those of rivals.

“My view is a real platform is a single platform,” Kurtz said in an interview with CRN in March, when asked about comments posted on X by Palo Alto Networks CEO Nikesh Arora.

“What we’ve been able to do is really demonstrate the platform. It’s all integrated. It’s a single platform, not multiple platforms. One console, one agent. And it’s immediate time to value,” Kurtz said at the time. “I think customers are voting with their wallets.”

S&P Dow Jones Indices announced the addition of CrowdStrike to the S&P 500 as part of several changes to the makeup of the index. Along with CrowdStrike, KKR and GoDaddy have also joined the S&P 500.

The companies that’ve now been added to the S&P 500 are “more representative of the large-cap market space,” S&P Dow Jones Indices said in a news release.

The companies have replaced Robert Half Inc., Comerica Inc. and Illumina Inc. on the S&P 500.

Other S&P 500 companies that focus on cybersecurity, though not exclusively, include Akamai and ServiceNow as well as tech giants like Microsoft and Cisco.