JPMorgan ups Crowdstrike target, adds to Analyst Focus List

JPMorgan raised the firm’s price target on Crowdstrike to $300 from $269 and keeps an Overweight rating on the shares. The analyst also added the shares to the firm’s Analyst Focus List as a growth idea. While the stock may seem expensive on the surface, it trades relatively in-line with its peers on a growth adjusted basis, the analyst tells investors in a research note. The firm thinks Crowdstrike’s growth and fundamentals could push the stock meaningfully higher over the next few years. It views the company as one of the best positioned platforms within its coverage to benefit from ongoing demand across the security software landscape with a favorable setup for incremental endpoint and emerging product growth.