Crowdstrike price target raised to $400 from $315 at Stifel

Stifel analyst Adam Borg raised the firm’s price target on Crowdstrike to $400 from $315 and keeps a Buy rating on the shares. CrowdStrike delivered a strong close to FY24 with all key top-line and bottom-line metrics above expectations despite fears of fatigue and pricing pressure, the analyst tells investors. The firm’s thesis that CrowdStrike has a number of drivers to sustain at least low-to-mid 20% growth and operating margin expansion in coming years “remains squarely intact” following the “strong print,” the analyst tells investors.