Piper Sandler lowered the firm’s price target on CrowdStrike (CRWD) to $450 from $505 and keeps a Neutral rating on the shares. Highlighting the quarter, NNARR returned to positive growth as the company begins to comp the negative impacts associated with last year’s incident – though the impact from the incident continues to dampen revenue in the near-term as subscription revenue was in line for the 2nd consecutive quarter, the firm says. A strong 40% second half of the year NNARR growth guide was ahead of the street and will buoy confidence by the bulls, but the lack of an overall revenue guide up will give the bears fodder as well, Piper adds.
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