Morgan Stanley analyst Keith Weiss lowered the firm’s price target on CrowdStrike (CRWD) to $460 from $495 and keeps an Equal Weight rating on the shares. The “key metric” of Net New ARR came in at $221M, which was 7% above consensus and “around investor expectations,” the analyst says. While second half NNARR guidance was also better than expected, a lack of pass through of the Q2 beat to fiscal year revenue guidance is likely to weigh on the stock for now given elevated expectations, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRWD:
- CrowdStrike price target lowered to $450 from $505 at Piper Sandler
- CrowdStrike price target lowered to $430 from $475 at Canaccord
- CrowdStrike Holdings: Strong Performance and Promising Outlook Drive Buy Rating
- CrowdStrike price target lowered to $343 from $371 at Bernstein
- CrowdStrike price target lowered to $500 from $530 at Jefferies