Joseph Gallo, an analyst from Jefferies, maintained the Buy rating on CrowdStrike Holdings (CRWD – Research Report). The associated price target is $400.00.
Joseph Gallo has given his Buy rating due to a combination of factors reflecting CrowdStrike Holdings’ strong performance and future potential. Gallo highlights the company’s ability to surpass expectations with a year-over-year annual recurring revenue (ARR) growth of 34%, outperforming consensus predictions. This significant ARR increase, coupled with the re-acceleration of net new ARR, showcases CrowdStrike’s robust growth, especially as pricing remains stable and win rates rise, which stands in favorable contrast to competitors like Palo Alto Networks (PANW).
Additionally, Gallo sees CrowdStrike’s planned increase in hiring for FY25 as an optimistic indicator of its growth trajectory, though it may temper near-term profit outlooks. The company’s guidance for the first fiscal quarter is viewed as cautiously realistic, enhancing confidence in its strategic planning. Gallo also points out that CrowdStrike’s expanding role as a broad security platform is becoming more apparent, warranting its premium valuation at 54 times its expected enterprise value to free cash flow for CY25. This comprehensive analysis underpins Gallo’s Buy rating, as he clearly believes CrowdStrike’s market position and financial metrics justify a positive investment outlook.
Gallo covers the Technology sector, focusing on stocks such as Palo Alto Networks, CyberArk Software, and Okta. According to TipRanks, Gallo has an average return of 8.6% and a 67.27% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $400.00 price target.
See today’s best-performing stocks on TipRanks >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
CrowdStrike Holdings (CRWD) Company Description:
Founded in 2011, CrowdStrike Holdings, Inc. provides cloud-delivered solution for next-generation endpoint protection. It offers cloud modules on its Falcon platform through an SaaS subscription-based model. The company offers its services in the United States, Australia, Germany, India, Romania, and the United Kingdom.
Read More on CRWD:
- CRWD Earnings: CrowdStrike Stock Gains on Impressive Q4 Report
- Options Volatility and Implied Earnings Moves Today, March 05, 2024
- Crowdstrike price target raised to $350 from $325 at Needham
- Options Volatility and Implied Earnings Moves This Week, March 04 – March 07, 2024
- Crowdstrike price target raised to $380 from $315 at Wells Fargo
