CrowdStrike price target raised to $450 from $396 at UBS

UBS raised the firm’s price target on CrowdStrike (CRWD) to $450 from $396 and keeps a Buy rating on the shares. The firm sees a more mixed setup into Q4 given the roughly 80% move since early August, the analyst tells investors in a research note. UBS notes that January/February checks were positive on both CrowdStrike’s expansion business as well as new logos, and that conversations generally still skew positive on company fundamentals. As long as CrowdStrike can reiterate its long-term model and growing exposure to areas like crowd, UBS expects near-term weakness gets bought.