CrowdStrike (CRWD) Raises Price Target to $238 After Q2 Earnings
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowMorgan Stanley raised CrowdStrike's (CRWD) price target from $227 to $238 after examining the company's Q2 earnings. The report showed record net new annual recurring revenue (ARR) of $333 million, a 51% increase year-over-year, which exceeded expectations by 17%. Total ARR reached $5.84 billion, growing 25.4% year-over-year. Revenue was $1.47 billion, up 26% year-over-year, which was about 2% above consensus. This matters for investors as it suggests strong demand for CrowdStrike's cybersecurity solutions amid increasing threats.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About CrowdStrike Holdings Inc. (CRWD)
CrowdStrike is a cloud-based cybersecurity company specializing in endpoint protection.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier CRWD news
- CrowdStrike (CRWD) Stock Jumps After Record-Breaking Earnings
- CrowdStrike (CRWD) Stock Price Target Increased by Scotiabank
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- Dow Jones Futures Repair Market Damage; Nvidia Earnings Upcoming
- Crowdstrike CEO George Kurtz Sells $1.93M in Stock
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