TD Cowen analyst Shaul Eyal has reiterated their bullish stance on CRWD stock, giving a Buy rating today.
Shaul Eyal has given his Buy rating due to a combination of factors including CrowdStrike Holdings’s (CRWD) exceptional financial performance and strong future guidance. Eyal’s confidence is bolstered by the company’s record-breaking fourth quarter results, which saw a 34% year-over-year growth in Annual Recurring Revenue (ARR), reaching $3.44 billion, surpassing consensus estimates. The company also reported a remarkable 33% year-over-year revenue growth, with subscription revenue climbing to $796 million, and a substantial increase in non-GAAP subscription gross margin. Additionally, the company has demonstrated impressive free cash flow margins and net income, both indicative of robust financial health.
The analyst’s optimism extends to CrowdStrike’s operational metrics and strategic initiatives. With a gross retention rate of 98% and dollar-based net retention of 119%, CRWD showcases strong customer loyalty and expanding revenue per user. Eyal also notes the doubling of non-GAAP operating income and a significant operating margin expansion. Strategic moves, such as the acquisition of Flow Security and the expanded partnership with Dell, are poised to further strengthen CrowdStrike’s platform. Record growth in key platform components further underscores the company’s momentum, supporting Eyal’s expectation of sustained growth and his decision to rate CRWD as a Buy.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $400.00 price target.
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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.
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