J.P. Morgan analyst Brian Essex has maintained their bullish stance on CRWD stock, giving a Buy rating yesterday.
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Brian Essex has given his Buy rating due to a combination of factors that suggest a promising outlook for CrowdStrike Holdings. The company is expected to deliver strong results, with an acceleration in growth and expansion of margins anticipated in the upcoming quarters. Conversations within the industry and with partners indicate a robust performance, particularly as CrowdStrike overcomes previous challenges related to CCP headwinds and elevated expenses from outages.
Despite the stock appearing expensive compared to its peers, Essex believes that the consensus estimates are conservative and that CrowdStrike is well-positioned to exceed these expectations. The company’s operating leverage is considered underappreciated, and there is confidence in its ability to surpass its operating and free cash flow margin targets. Furthermore, CrowdStrike’s focus on revenue growth and market penetration, supported by partner incentives, is expected to consolidate its position as a leading platform in the industry.
In another report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $475.00 price target.
CRWD’s price has also changed moderately for the past six months – from $379.750 to $418.830, which is a 10.29% increase.