CrowdStrike Holdings (CRWD) PT Lowered to $365 at Oppenheimer
Oppenheimer analyst Ittai Kidron lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $365.00 (from $450.00) while maintaining a Outperform rating.
The analyst comments "CrowdStrike reported better than feared 2Q results, beating estimates and delivering 11% NNARR growth despite dealing with the impact of the July 19th IT outage. For 2HFY25, Management guided 3Q/FY25 revenue guidance below estimates, largely due to a $60M subscription revenue headwind ($30M in 3Q) from its Customer Commitment Package, which involves offering customers higher discounts and free modules to entice platform adoption. Looking ahead, while we expect the stock to remain range-bound until investors gain greater clarity around FY26 growth trends and the timing of NNARR re-acceleration, we believe CrowdStrike's long-term growth opportunity remains intact, and continue to view it as a leading cybersecurity platform. Adj. est. for results/guidance and lowering PT to $365. Maintain Outperform."