CrowdStrike price target raised to $510 from $500 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on CrowdStrike (CRWD) to $510 from $500 and keeps an Outperform rating on the shares. The company’s Q1 net new annual recurring revenue – NNARR – was “strong” against high expectations, and the management’s Q2 NNARR topped estimates, with the management also remains optimistic on NNARR acceleration in the second half of FY26, the analyst tells investors in a research note. CrowdStrike profitability going higher and a new $1B share repurchase plan were also positives, RBC added.