KeyBanc lowered the firm’s price target on Crowdstrike to $420 from $440 and keeps an Overweight rating on the shares. Results from the firm’s Q2 IT VAR survey suggest a similar or even slightly more challenging quarter than Q1. he IT budget outlook for 2024 moderated to 1.6% growth from 2.6% in KeyBanc’s prior survey. 39% of respondents said the macro worsened in the last 90 days and the timing of an expected rebound in IT spend was pushed out yet again.
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