Crowdstrike price target raised to $170 from $165 at Needham

Needham raised the firm’s price target on Crowdstrike to $170 from $165 and keeps a Buy rating on the shares. The company’s Analyst Day presentation offered a "strong, positive tone, and a compelling strategy replete with robust long-term goals", the analyst tells investors in a research note. Needham adds that the Crowdstrike address also tackled the key parts of the bear-camp thesis, noting that the firm came away from the event with a reinforced belief that Crowdstrike is delivering a strong, multifaceted platform that addresses a broad range of security challenges in a "comprehensive, integrated manner".