Crowdstrike price target raised to $355 from $300 at Oppenheimer

Oppenheimer raised the firm’s price target on Crowdstrike to $355 from $300 and keeps an Outperform rating on the shares. The firm notes CrowdStrike reported a strong Q4, beating estimates behind 27% year-over-year NNARR growth and strong profitability gains. The results showed no signs of spending fatigue and robust platform adoption, evidenced by a 100% year-over-year increase in deals w/8+ modules and ARR for Emerging Products surpassing $850M. Looking ahead, the stand-out results and after-hours price reaction will create high expectations going forward, Oppenheimer says. However, the firm believes CrowdStrike can continue to execute its platform selling motion to quickly scale new products scheduled for FY25.