CrowdStrike (CRWD) PT Raised to $230 at Citizens on Strong Leadership in Endpoint Protection

Citizens analyst Rustam Kanga raised the price target on CrowdStrike (NASDAQ: CRWD) to $230.00 (from $195.00) while maintaining a Market Outperform rating.

The analyst commented, "We are raising our price target to $230 from our $195 split-adjusted PT. CrowdStrike currently trades at a CY27E EV/revenue multiple of 31.1x and a CY27E EV/FCF multiple of 95.6x, while our revised $230 price target implies a 32.3x CY27E EV/revenue multiple (our prior $195 split-adjusted price target implied 27.3x), a premium to the mean multiple of 15.3x for our peer group and a 6% premium to the current stock price. We believe the premium is justified based on CRWD's strong leadership in the endpoint protection market and a growing total addressable market led by intelligent product development/acquisition choices within cloud security, next-gen SIEM, DSPM, and other critical categories within cybersecurity."

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