Raymond James raised the firm’s price target on CrowdStrike (CRWD) to $390 from $360 and keeps an Outperform rating on the shares. CrowdStrike’s net new annual recurring revenue fell modestly below estimates in Q4, while Q1 NNARR expectations were above the firm’s expectations and should reaccelerate growth in the second half, the analyst tells investors in a research note. The firm says it is willing to stay with a positive bias due to historical evidence on module adoption, but acknowledges that the path forward is more complicated at an elite valuation.
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