Stifel Assumes CrowdStrike Holdings (CRWD), Upgrades to Buy

Feb 2, 2024

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November 13, 2023 1:37 AM EST

(Updated – November 13, 2023 3:53 AM EST)

Stifel analyst Adam Borg assumes coverage on CrowdStrike Holdings (NASDAQ: CRWD) with a Buy (from Hold) rating and a price target of $225.00.

The analyst comments “We are transferring coverage of CrowdStrike to Adam Borg, upgrading shares to Buy from Hold, and raising our target price to $225. CrowdStrike is a leading provider of Endpoint Security software and services to help prevent, detect, and respond to cyberattacks. While Endpoint Security is highly competitive, CrowdStrike’s differentiation is its high-efficacy cloud-based endpoint technology, lightweight single-agent architecture, and massive scale analyzing over 1 trillion events daily. Beyond this, through internal development and targeted M&A, CrowdStrike is building out a broader cybersecurity platform across adjacent cybersecurity (Cloud Security, Identity Security, SIEM, Vulnerability Management, etc.) and IT (IT Operations, etc.) use cases, which we think makes CrowdStrike one of a handful of vendors well-positioned to capitalize on cybersecurity platform consolidation in coming years. Net/net, we believe CrowdStrike has a number of secular and company-specific drivers to sustain at least low-to-mid 20% growth and operating margin/FCF expansion in coming years.”

For an analyst ratings summary and ratings history on CrowdStrike Holdings click here. For more ratings news on CrowdStrike Holdings click here.

Shares of CrowdStrike Holdings closed at $196.31 yesterday.

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