Crowdstrike’s Q3 results highlighted by broad-based momentum, says RBC Capital

RBC Capital keeps an Outperform rating and $230 price target on Crowdstrike after its Q3 earnings beat. The quarter was highlighted by broad-based momentum and large deal traction as customers increasingly look to consolidate security spend with CrowdStrike, the analyst tells investors in a research note. The company’s model also “continues to impress”, with 35% ARR growth to over $3B and 30% free cash flow margins, and the management expressed confidence in long-term targets of $10B in ARR and 34%-38% free cash flow margins. though much of this was already priced into shares, RBC added.