CrowdStrike Holdings (CRWD) PT Lowered to $270 at FBN Securities, Following Earnings

December 2, 2021 2:04 PM EST
Get Alerts CRWD Hot Sheet
Price: $160.94 +1.48%

Rating Summary:
    26 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 37
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FBN Securities analyst Shebly Seyrafi lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $270.00 (from $310.00) while maintaining a Outperform rating.

Analyst comments: "We retain our Outperform rating on CRWD and lower our PT from $310 to $270 to reflect the valuation in software stocks recently as well as slightly lower net adds compared to FQ2. The overall report was quite strong, with revenue growing by 63% Y/Y and beating consensus by 5%, billings growing by 65% and beating consensus by 8%, and ARR of $1.51B growing by 67% Y/Y and beating consensus by 2%.However, we were slightly disappointed that subscription net adds, which historically increased Q/Q, declined to 1,607 fro m 1,660 in FQ2. This is a relatively small nic k in an overall strong report."



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