Scotiabank analyst Patrick Colville initiated coverage of Crowdstrike with an Outperform rating and $132 price target. CrowdStrike has "a great product," is early in its penetration of a "robust" end-market, and has scale and profitability, making "one of the very few companies in our coverage" where he doesn’t see an overhang risk in 2023, Colville tells investors. Consensus ARR and free cash flow estimates have been reset to a level he view as "eminently achievable," Colville added.
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