Morgan Stanley ‘still skeptical’ of Crowdstrike’s second half ARR guidance

Morgan Stanley says Crowdstrike’s Q2 net new ARR “modestly beat” consensus, but was below buyside expectations. While better-than-expected margins and traction with emerging products were “encouraging,” the company’s guidance for reacceleration in net new ARR in the second half “still looks tough” and the firm is “still skeptical,” says the analyst, who has an Equal Weight rating and $167 price target on Crowdstrike shares.