CrowdStrike Holdings (CRWD – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Shaul Eyal from TD Cowen reiterated a Buy rating on the stock and has a $450.00 price target.
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Shaul Eyal has given his Buy rating due to a combination of factors that highlight CrowdStrike Holdings’ strong financial performance and strategic positioning. The company closed the fiscal year with a robust total contract value of $6 billion, marking a 40% year-over-year increase. This growth was supported by a 25% rise in revenue and a 23% increase in Annual Recurring Revenue (ARR), both of which exceeded market expectations.
Additionally, CrowdStrike’s strategic use of AI across its operations positions it well in the competitive landscape, particularly in cloud and identity security, which saw significant ARR growth. The company’s ability to secure large deals, including over 20 transactions exceeding $10 million, further underscores its market strength. Despite some adjustments in earnings estimates due to taxation and other costs, CrowdStrike’s reaffirmation of its long-term growth targets and its expanding Total Addressable Market (TAM) bolster confidence in its future prospects.
Eyal covers the Technology sector, focusing on stocks such as Palo Alto Networks, Check Point, and Fortinet. According to TipRanks, Eyal has an average return of 25.5% and a 66.47% success rate on recommended stocks.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $425.00 price target.