CrowdStrike price target raised to $580 from $515 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on CrowdStrike (CRWD) to $580 from $515 and keeps a Buy rating on the shares ahead of its Q3 results next week. The firm is expecting a strong beat and raise with continued net new annual recurring revenue momentum likely giving investors increased confidence in CrowdStrike delivering the targeted 20% y/y growth in FY27, the analyst tells investors in a research note. The recent pullback in CrowdStrike shares is in step with the market and valuation remains frothy vs. comps, and while the firm is unsure if results will be enough to catalyze shares near-term, it remains positive on the name over the long term, DA Davidson added.