CrowdStrike Holdings (CRWD) PT Raised to $120 at Needham & Company

Needham & Company analyst Alex Henderson raised the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $120.00 (from $105.00) while maintaining a Buy rating as experts continue to name the company as a prime beneficiary from WFH and the rapid shift to cloud delivered. CRWD is Indicating Up ~5% in the After Market and Henderson thinks the valuation will continue to move up as Needham & Company considers CRWD one of the premier growth engines in Security and in the broader Technology arena.

Total Revenue was $178.1 million, up 85%, well ahead of Crowd's guide of 71%-73%. Subscription Revenue of $162.2 million, up 89%, from $86.0 million last year. EPS of $0.02 per share was $0.09 ahead of forecasts of a $0.07 loss and compared to a loss of $0.47 in the first quarter of fiscal 2020.

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