CrowdStrike Holdings, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mike Cikos from Needham maintained a Buy rating on the stock and has a $535.00 price target.
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Mike Cikos has given his Buy rating due to a combination of factors that highlight CrowdStrike Holdings’ strong growth potential. One of the key reasons is the company’s ambitious target of achieving over 20% Net-New Annual Recurring Revenue (ARR) growth by fiscal year 2027, which surpasses the more conservative growth estimates of around 12% previously assumed by analysts. This target reflects management’s confidence and visibility into the future performance of the business.
Additionally, the company’s strategic initiatives, such as expanding its platform breadth, customer consolidation efforts, and the success of its Flex and Re-Flex offerings, are expected to drive this impressive growth. Furthermore, CrowdStrike has set a long-term goal of reaching $20 billion in ARR by fiscal year 2036, indicating its aspirations to become a generational leader in the industry. These factors collectively underpin Mike Cikos’s positive outlook and Buy rating for CrowdStrike Holdings.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $515.00 price target.
Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRWD in relation to earlier this year.