Stephens lowered the firm’s price target on CrowdStrike (CRWD) to $465 from $590 and keeps an Overweight rating on the shares. While the firm expects CrowdStrike to deliver “strong” fiscal Q4 results, reflecting durable platform demand and momentum across emerging growth areas, it is lowering its price target reflecting broader software multiple compression “rather than any change to our fundamental outlook,” the analyst tells investors in a preview.
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