Crowdstrike price target raised to $425 from $332 at BMO Capital

BMO Capital raised the firm’s price target on Crowdstrike (CRWD) to $425 from $332 and keeps an Outperform rating on the shares. The company’s net new annual recurring revenue, NNARR, of $282M was the standout in the quarter, far above consensus of $242M and even higher than buyside expectations, the analyst tells investors in a research note. Crowdstrike’s strong quarter and guide also stand apart from other security reports, which raises incremental concerns on Palo Alto Networks’ (PANW) recent challenges and go-to-market change, the firm added.