ZS - CrowdStrike Shares Explode On Q4 Earnings: 12 Analysts Revise Their Forecasts | Benzinga
CrowdStrike Holdings Inc (NASDAQ: CRWD) shares climbed in early trading on Wednesday, after the company delivered an earnings beat.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
Piper Sandler On CrowdStrike
Analyst Rob Owens reiterated an Overweight rating while raising the price target from $300 to $400.
CrowdStrike reported ARR (annual recurring revenue) of $3.44 billion, up 34% year-on-year, and around $40 million higher than Street expectations, Owens said in a note. "Accelerating NNARR growth of +27% punctuated a strong end to the year for CRWD,” he added.
"Platform traction and momentum remain compelling, and management's confidence behind its strategy is unwavering despite comments and GTM strategy changes noted by competitors recently,” the analyst further wrote.
BMO Capital Markets On CrowdStrike
Analyst Keith Bachman maintained an Outperform rating while lifting the price target from $332 to $425.
CrowdStrike net new ARR of $282 million was the highlight of the quarter and was "even higher than buyside expectations, in our judgment,” Bachman said.
He added that the company’s robust quarter and guidance "stand apart from other security reports,” which raised "incremental concerns” around Palo Alto Networks Inc.’s (NASDAQ: PANW) recent challenges.
Stifel On CrowdStrike
Analyst Adam C. Borg reaffirmed a Buy rating, while raising the price target from $315 to $400.
"Despite fears of fatigue/pricing pressure, CrowdStrike delivered a strong close to FY24, with all key top-line/bottom-line metrics above expectations,” Borg wrote in a note.
"Growing traction across emerging Cloud/Identity/LogScale opportunities, which collectively drove $850M+ in ending ARR (+100% Y/Y),” the analyst stated. He added that CrowdStrike is among "a handful of vendors well-positioned to capitalize on cybersecurity platform consolidation as it pursues $10B in ARR in coming years.”
RBC Capital Markets On CrowdStrike
Analyst Matthew Hedberg reiterated an Outperform rating while lifting the price target from $357 to $420.
CrowdStrike delivered upbeat quarterly results even again high expectations, "driven by broad-based momentum and large deal traction with +34% ARR growth, +33% revenue growth and 33% FCF margin,” Hedberg said.
"Despite spending concerns raised by PANW, CRWD continues to execute well and consolidate cyber spending as it remains a top long-term pick,” he added.
Mizuho Securities On CrowdStrike
Analyst Gregg Moskowitz maintained ...