Crowdstrike price target raised to $240 from $180 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver raised the firm’s price target on Crowdstrike to $240 from $180 and keeps an Overweight rating on the shares. Crowdstrike delivered a solid Q3 print on elevated competition in the endpoint/extended detection and response space, and delivered on record net new annual recurring revenue addition plus profitability, the analyst tells investors in a research note. Crowdstrike’s market-leading EDR platform is most resilient against its peers, the firm contends.