Crowdstrike price target raised to $210 from $180 at Piper Sandler

Piper Sandler raised the firm’s price target on Crowdstrike to $210 from $180 on increased long-term free cash flow margins, while keeping an Overweight rating on the shares after attending the company’s Fal.Con user conference, with key themes of new product innovation, continued progress on the security platform vision and longer-term margin dynamics on display. The firm came away from the conference incrementally confident in longer-term dynamics for the company. Newer products such as cloud, identity and SIEM should help Crowdstrike sustain over 20% growth over the next 5-plus years as management sets its eyes on $10B-plus in ARR, and a focus around gross margin improvement helps drive a +900 bps revision to previous long-term op. margin expectations, Piper adds.