Wells Fargo analyst Andrew Nowinski reiterated an Overweight rating and $435 price target on Crowdstrike, saying that even amid a tighter spending environment, Crowdstrike is still a Top Pick. Results from the firm’s mid-year CIO survey suggest spending will remain tight in the back half of 2024, as deals are getting harder to closer. Crowdstrike is one of the few vendors able to grow through this tough dynamic, while also expanding operating margin and free cash flow margin, the analyst tells investors in a research note.
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