Crowdstrike price target raised to $250 from $200 at Wells Fargo

Wells Fargo raised the firm’s price target on Crowdstrike to $250 from $200 and keeps an Overweight rating on the shares. The firm notes CrowdStrike reported another strong quarter, highlighted by 13% year-over-year growth in net new ARR. There are very few companies in the software universe generating 33% ARR growth, 21% OM, and a 30% free cash flow margin, says Wells. As such, Crowdstrike remains a top pick, the firm adds.