UPDATE: Deutsche Bank Starts CrowdStrike Holdings (CRWD) at Buy

April 15, 2021 6:08 AM EDT
Get Alerts CRWD Hot Sheet
Price: $256.61 +7.96%

Rating Summary:
    23 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 51
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(Updated - April 15, 2021 6:11 AM EDT)

Deutsche Bank analyst Patrick Colville initiates coverage on CrowdStrike Holdings (NASDAQ: CRWD) with a Buy rating and a price target of $265.00.

The analyst comments "We see CrowdStrike in the sweet spot for two important secular trends of this decade: the rising importance of cybersecurity and cloud adoption. We think investors are underappreciating the incremental dollars flowing into endpoint security, a TAM we peg at $35bn, with CrowdStrike currently only ~5% penetrated. We look for CrowdStrike to continue to land new logos, especially from Broadcom Symantec and McAfee, and cross-sell existing customer’s additional modules. CrowdStrike is already showing the underlying profitability of this business, and we see a clear path to >30% margins. In our view, CrowdStrike is likely to outperform expectations and we initiate with a Buy rating and a $265 price target."

For an analyst ratings summary and ratings history on CrowdStrike Holdings click here. For more ratings news on CrowdStrike Holdings click here.

Shares of CrowdStrike Holdings closed at $208.20 yesterday.

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