Scotiabank last night upgraded CrowdStrike (CRWD) to Outperform from Sector Perform with a price target of $600, up from $440. The firm latest channel checks indicate that CrowdStrike is “more competitively entrenched than ever” in core endpoint security. It expects the company to “chip away” at the remaining 50% market share. Scotiabank expects CrowdStrike to materially re-accelerate growth, possibly to its “upside case” of 25%-30% annual recurring revenue growth in fiscal 2027. This is one of the fastest rates in software, the analyst tells investors in a research note.
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Read More on CRWD:
- CrowdStrike upgraded to Outperform from Sector Perform at Scotiabank
- CrowdStrike downgraded to Sell from Hold at DZ Bank
- CrowdStrike price target raised to $550 from $500 at Citizens JMP
- CrowdStrike price target raised to $550 from $490 at Rosenblatt
- CrowdStrike price target raised to $500 from $430 at Canaccord