CRWD - CrowdStrike Impresses With Solid Q3 Earnings Analysts Remain Bullish Despite Tough Market | Benzinga
Shares of CrowdStrike Holdings Inc (NASDAQ: CRWD) were climbing higher on Wednesday, after the company reported strong third quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
Oppenheimer On CrowdStrike
Analyst Ittai Kidron maintained an Outperform rating, while raising the price target to $240.
CrowdStrike reported solid quarterly results, driven by NNARR (net new annual recurring revenue) growth and strong profitability gains, Kidron said in a note. "Demand was broad-based, with acceleration in growth for ITDR and Cloud Security and a record quarter for LogScale,” he added.
"While bears will point to the muted 4Q NNARR and revenue outlook, we believe management is prudently incorporating a high degree of conservatism with regard to a 4Q budget flush,” the analyst wrote. He further expressed optimism around CrowdStrike being able to sustain its momentum in 2024.
Needham On CrowdStrike
Analyst Alex Henderson reiterated a Buy rating, while lifting the price target from $245 to $250.
"Crowd delivered another robust quarter, beating estimates on every key metric,” Henderson wrote in a note. The earnings call and commentary ...