CrowdStrike Holdings (CRWD) PT Raised to $385 at Mizuho

Mizuho analyst Gregg Moskowitz raised the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $385.00 (from $375.00) while maintaining a Outperform rating.

The analyst commented: "We recently hosted a group investor event with CFO Burt Podbere. During our discussion, Mr. Podbere outlined the multifaceted benefits of CRWD's very successful Falcon Flex program. Moreover, he expressed great confidence that CRWD would emerge from its infamous IT outage as a stronger company.

More broadly, despite the increased near-term uncertainty, we remain steadfast in our view that CRWD’s cloud security platform is very differentiated, its GTM is unrivaled, and the co. is demonstrating significantly greater success extending beyond traditional endpoint security markets. In addition, we believe normalized FCF margins should remain around 30%. We maintain our Outperform rating. Separately, we slightly raise our PT to $385 (was $375) to reflect recent appreciation in comp multiples."

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