Crowdstrike price target raised to $375 from $300 at Stifel

Stifel raised the firm’s price target on Crowdstrike (CRWD) to $375 from $300 and keeps a Buy rating on the shares ahead of the company reporting fiscal Q3 earnings after market close on November 26. The firm recently performed two sets of detailed checks to better understand the impact of CrowdStrike’s July faulty update on the quarter, pipeline and FY25 guidance, competitive positioning, medium-term opportunities, and risk of legal liability, and from a fundamental perspective, these checks suggest resellers are seeing divergent trends across several dimensions. However, the checks have “nearly universally suggested” that the faulty update is having a diminishing impact and that CrowdStrike will emerge stronger from the event, with improving confidence in its medium-term market opportunity, the analyst tells investors.