Needham raised the firm’s price target on CrowdStrike (CRWD) to $535 from $475 and keeps a Buy rating on the shares. The most significant takeaway from the company’s annual Fal.Con conference was the management’s 20%-plus Net-New annual recurring revenue target in FY27 as sell-side models had assumed a more subdued 12% growth, the analyst tells investors in a research note. This was also the first time that the management has offered an out-year Net-New ARR forecast, indicating CrowdStrike visibility and confidence in the business, the firm added.
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