Crowdstrike price target raised to $245 from $185 at DA Davidson

DA Davidson raised the firm’s price target on Crowdstrike to $245 from $185 and keeps a Buy rating on the shares. The company reported a “solid” Q3 earnings beat and affirmed its ARR outlook, with a net new ARR hitting a record of $223.1M, up 13% from last year compared to a decline of 10% y/y in Q2, the analyst tells investors in a research note. DA Davidson adds that while Billings and RPO growth decelerated quite a bit, the company’s shorter average contract durations is “likely having an impact”.