CrowdStrike Holdings (CRWD) PT Raised to $450 at Rosenblatt

Rosenblatt analyst Catherine Trebnick raised the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $450.00 (from $385.00) while maintaining a Buy rating.

The analyst comments "Based on our fieldwork, we expect CrowdStrike to meet or slightly exceed our Q4 revenue estimates of ~22% Y/Y growth (compared to ~28.5% in Q3 and our FY25 forecast of 28%). For ARR, we expect growth of 22% Y/Y (compared to 27.4% in Q3); for Net New ARR, we are projecting $187M down 34% Y/Y (compared to 32% in Q3). Conversations with 20 CISOs in January and four resellers suggest the impact of the outage appears limited, with minimal customer churn, as customers are instead choosing to add modules and/or extend the terms of their contracts. The company continues to be a security consolidator as growth last quarter was fueled by strong adoption of emerging modules like LogScale, Identity Threat Detection, and Cloud Security. These new products are landing larger deals with new logos and thorough up-sell. Resellers noted several 7-figure deals across the Falcon platform and landing with emerging modules. This note provides a preview of our Q4/FY25 expectations for CrowdStrike. We are maintaining our FY26 ARR/Revenue forecast but raising our operating margin and PF EPS estimates due to improving profitability. Additionally, we are introducing our FY27 estimates and rolling forward our valuation to FY27. Based on this updated outlook, we are raising our target price to $450 (from $385)."

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