- Analysts painted a sharp upside to CrowdStrike Holdings Inc (NASDAQ:CRWD) after it reported a stronger than expected Q4 and initial FY23 growth outlook. ARR rose 65% Y/Y and grew to $1.73 billion, of which $216.9 million was net new ARR added in Q4.
- BTIG analyst Gray Powell upgraded to Buy from Neutral with a $257 PT (51.4% upside).
- The game-changer" was the incremental disclosure illustrating real traction in tangential markets outside of core endpoint security.
- With tangential products currently contributing over 15% of annual recurring revenue and growing over 100% year-over-year, Powell sees "hard evidence of a second and even third leg to the story emerging" and has a higher degree of confidence in Crowdstrike's long-term growth profile.
- RBC Capital raised the PT from $250 to $275 (62% upside), Canaccord from $225 to $238 (40.2% upside), JP Morgan from $255 to $288 (69.6% upside), and Barclays from $250 to $255 (50.2% upside).
- UBS cut the PT from $310 to $285 (67.9% upside), Deutsche Bank lowered PT from $260 to $240 (41.4% upside), and Jefferies decreased the PT from $300 to $250 (47.2% upside).
- Price Action: CRWD shares traded higher by 12.1% at $190.25 in the premarket on the last check Thursday.
