Crowdstrike price target raised to $375 from $325 at Truist

Truist raised the firm’s price target on Crowdstrike (CRWD) to $375 from $325 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for the Infrastructure & Security Software names. Buyer behavior has stabilized in the sector since last year, and the firm is focused on visibility into 2025 when generative AI projects will have a “rubber meets the road” moment, the analyst tells investors in a research note. The cost for execution missteps will be high in the weeks ahead, and the firm favors high-quality names going into the print, Truist states. The firm warns however that for Crowdstrike, near-term will result in temporarily muted upsell dollar values and temporarily higher than typical levels of contraction due to elongated subscription terms in the wake of its July 19th global IT outage incident.