Crowdstrike price target raised to $200 from $170 at Needham

Needham analyst Alex Henderson raised the firm’s price target on Crowdstrike to $200 from $170 and keeps a Buy rating on the shares. The company’s Q2 results marked a “solid beat” and margin expansion, while its guidance was set “conservatively”, the analyst tells investors in a research note. The management noted a strong and strengthening pipeline, robust and stable win rates, and macro conditions that appear to have stabilized, even though its guidance was predicated on no improvement in conditions despite the “destabilization of competitors”, the firm added.