CrowdStrike Holdings (CRWD) PT Raised to $355 at Oppenheimer
Oppenheimer analyst Ittai Kidron raised the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $355.00 (from $300.00) while maintaining a Outperform rating.
The analyst commented, "CrowdStrike reported a strong 4Q, beating estimates behind 27% YoY NNARR growth and strong profitability gains (25%OM/33% FCFM). The results showed no signs of spending fatigue and robust platform adoption, evidenced by a 100% YoY increase in deals w/8+ modules and ARR for Emerging Products (Cloud, Identity, LogScale) surpassing $850M. Looking ahead, the stand-out results (relative to peers) and after-hours price reaction will create high expectations going forward. However, we believe CrowdStrike can continue to execute its platform selling motion to quickly scale new products scheduled for FY25 (Falcon for IT, Charlotte AI, ASPM). Coupled with growing contribution from partnerships, we see potential for upside to the current FY25 outlook. Adj. est. for results guidance and raising PT to $355. Maintain Outperform."