CrowdStrike price target raised to $625 from $480 at TD Cowen

TD Cowen raised the firm’s price target on CrowdStrike (CRWD) to $625 from $480 and keeps a Buy rating on the shares ahead of the fiscal Q1 report on June 3. The company is “very well positioned” to benefit from rising global cybersecurity budgets as automated threat detection and response becomes a “foundational survival equipment,” the analyst tells investors in a research note. TD expects CrowdStrike to report “another solid” annual recurring revenue print in the mid-20s percent.