DA Davidson raised the firm’s price target on Crowdstrike (CRWD) to $185 from $175 and keeps a Buy rating on the shares. The company’s Q2 results saw a modest top-line beat and profitability outlook was “raised nicely”, while its guidance for annual recurring revenue, ARR, growth was reiterated again as the management alluded to improved competitive dynamics vs. SentinelOne (S), the analyst tells investors in a research note. The firm adds that it would have liked to see the FY24 net new ARR guide revised higher, but also believes that the bottom line outperformance will help offset that.
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Read More on CRWD:
- CrowdStrike (NASDAQ:CRWD) Blasts Up amid Earnings and Analyst Commentary
- Crowdstrike price target raised to $167 from $165 at BMO Capital
- Crowdstrike price target raised to $185 from $182 at RBC Capital
- Crowdstrike price target raised to $190 from $175 at Rosenblatt
- Morgan Stanley ‘still skeptical’ of Crowdstrike’s second half ARR guidance
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