Crowdstrike price target raised to $400 from $300 at Citi

Citi raised the firm’s price target on Crowdstrike (CRWD) to $400 from $300 and keeps a Buy rating on the shares post the fiscal Q3 report. The company reported an “impressive” $1B milestone revenue quarter with “healthy” operating leverage despite outage-costs realization, the analyst tells investors in a research note. The firm says Crowdstrike’s near-term business momentum “has naturally been snarled” by the July-outage, which is being “prudently extrapolated” into Q4 renewals, which could result in the shares consolidating lower.