Crowdstrike price target raised to $350 from $300 at JPMorgan

JPMorgan analyst Brian Essex raised the firm’s price target on Crowdstrike to $350 from $300 and keeps an Overweight rating on the shares. The analyst continues to view Crowdstrike as one of the best positioned platforms within the firm’s coverage universe to benefit from ongoing demand across the security software landscape with a favorable setup for incremental endpoint, emerging product growth, and vendor consolidation in its favor. JPMorgan sees a favorable setup for Q4 growth and continues to think Crowdstrike’s margin story “remains underappreciated at a time when the market favors stocks of companies that deliver profitable growth.”