Crowdstrike price target raised to $420 from $360 at Needham

Needham raised the firm’s price target on Crowdstrike (CRWD) to $420 from $360 and keeps a Buy rating on the shares. Crowdstrike outperformed all guided metrics in Q3, and Needham sees the relatively unchanged Gross Retention as supporting management’s strategy, in addition to the broader company’s execution in turning a crisis into an opportunity, the analyst tells investors in a research note. At the same time, the firm thinks management is appropriate in its tone that the company is navigating with reduced visibility.