Crowdstrike price target lowered to $290 from $380 at DA Davidson

DA Davidson lowered the firm’s price target on Crowdstrike to $290 from $380 and keeps a Buy rating on the shares. The analyst believes the 35% pullback in the shares from recent highs due to the July IT outage “more than price in the likely negative impacts.” The firm still expects a “better than feared” Q2 earnings print and fiscal 2025 guidance revision when Crowdstrike reports results on August 28. DA reduced second half of 2025 and fiscal 2026 estimates, though it believes Crowdstrike “will quickly regain their footing and momentum.”