CrowdStrike price target raised to $410 from $370 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver raised the firm’s price target on CrowdStrike (CRWD) to $410 from $370 and keeps an Overweight rating on the shares. CrowdStrike remains one of the firm’s top long-term platformization ideas, and views the July 2024 outage as an intermediate-term headwind that customers and investors will move past, the analyst tells investors in a research note. Growth across emerging product categories and reacceleration of net new annual recurring revenue expected in the back half of this year drive Cantor’s conviction in the company, the analyst says.