Needham lowered the firm’s price target on CrowdStrike (CRWD) to $475 from $530 and keeps a Buy rating on the shares. The company reported net-new annual recurring of $221M in the quarter, surpassing qualitative commentary suggesting $202M, as the management continued to message the strength of CrowdStrike’s platform which is driving more than 40% y/y growth from Cloud Security, Next-Gen Identity, and LogScale Next-Gen SIEM while ending the quarter with more than $1.56B from these “speedboats”, the analyst tells investors in a research note. CrowdStrike remains on course to execute against accelerating sequential net-new ARR growth exiting FY26 as Flex becomes a growing contributor to overall business momentum, the firm added.
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