CrowdStrike (CRWD) PT Raised to $237 at BTIG

BTIG analyst Gray Powell raised the price target on CrowdStrike (NASDAQ: CRWD) to $237.00 (from $191.00) while maintaining a Buy rating.

The analyst comments "During our on cycle field checks over the last few weeks, we were able to pick up some compelling data points on CRWD from six industry contacts (3 partners, 2 industry experts / cyber advisory firms, and an industry analyst). In addition, we participated in a pre-quiet period call with IR last week. All in, our work points towards a positive demand environment with AI creating incremental tailwinds for CRWD’s core endpoint security offering. In addition, we picked up positive feedback on emerging product initiatives – most notably Next Gen SIEM as well as Exposure Management and AI Detection and Response (AI DR). While two weeks remain in FQ2, we came away from our work with increased confidence in our outlook this quarter. In an upside scenario, we think CRWD could post ARR growth of 25.0% in FQ2 vs. the Street at 24.4%. We also adjusted our model for CRWD’s previously announced 4:1 stock split. And we increased our PT to $237/share."

You May Also Be Interested In

• American Water (AWK) PT Raised to $140 at BofA Securities
• Citi raises CrowdStrike price target to $250, maintains Buy
• Infosys Technologies (INFY) PT Lowered to $13 at Stifel in Absence of Quarterly Guide