Roger Boyd, an analyst from UBS, maintained the Buy rating on CrowdStrike Holdings. The associated price target was raised to $590.00.
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Roger Boyd has given his Buy rating due to a combination of factors that highlight CrowdStrike Holdings’ strong performance and strategic positioning. The company reported an impressive quarter with significant growth in its Annual Recurring Revenue (ARR), particularly driven by its core endpoint products and the Flex licensing model. This growth positions CrowdStrike well to tackle security challenges in the evolving AI landscape, justifying a premium valuation for its shares.
Furthermore, CrowdStrike’s momentum in next-generation Security Information and Event Management (SIEM) and strategic partnerships with major players like AWS, Kroll, F5, and EY enhance its market presence. The company also achieved record earnings before interest and taxes (EBIT) and earnings per share (EPS) for the quarter, despite recent acquisitions. With a strong pipeline and flexible contract offerings, CrowdStrike is poised for continued growth, prompting an increase in the price target to $590.
In another report released today, Barclays also maintained a Buy rating on the stock with a $610.00 price target.