Analyst Shyam Patil from Susquehanna reiterated a Buy rating on CrowdStrike Holdings (CRWD – Research Report) and increased the price target to $410.00 from $330.00.
Shyam Patil has given his Buy rating due to a combination of factors, chief among them being CrowdStrike Holdings’s strong fourth-quarter performance for fiscal year 2024. The company surpassed expectations across all metrics, signaling robust business momentum. Patil acknowledges CrowdStrike’s successful expansion beyond its core endpoint security offerings, noting that approximately one-quarter of the company’s total Annual Recurring Revenue (ARR) is now attributable to its non-endpoint products. This diversification into a broader platform provider is a key element in Patil’s positive outlook.
Additionally, the upward revision of the price target from $330.00 to $410.00 reflects confidence in the company’s growth trajectory and market position. The report indicates that CrowdStrike is capitalizing on its category-leading status in endpoint security to build a comprehensive security platform, which is a strategic move that could contribute to sustained growth and market share gains. Patil’s analysis suggests that the company’s consistent performance and strategic initiatives position it well for future success, justifying the Buy rating.
According to TipRanks, Patil is a 5-star analyst with an average return of 9.9% and a 53.55% success rate. Patil covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Criteo SA.
In another report released today, Citi also maintained a Buy rating on the stock with a $425.00 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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