Crowdstrike price target raised to $400 from $350 at Truist

Truist analyst Joel Fishbein raised the firm’s price target on Crowdstrike to $400 from $350 and keeps a Buy rating on the shares. The company delivered better than expected revenue, operating income, annual recurring revenue, or ARR, net new ARR, and free cash flow for its Q4 despite ongoing macro headwinds, the analyst tells investors in a research note. Truist adds that it remains encouraged by the strength in the company’s underlying business, as even in a tough macro, Crowdstrike displayed significant operating leverage.