CrowdStrike price target raised to $475 from $440 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on CrowdStrike (CRWD) to $475 from $440 and keeps an Overweight rating on the shares. The firm remains positive on a second half net new annual recurring revenue reacceleration, though cautious near-term about constraints in endpoint market growth, the early stage of emerging product adoption, lurking macro headwinds and the current premium valuation, the analyst tells investors in a research note. While positive on the long-term platform positioning, Cantor sees little upside near-term, particularly in light of the preannounced results.