CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our target price to $406 from $360 on a P/S of 24.5x, above its three-year historical average on its competitive strength and annual recurring revenue (ARR) growth momentum even in a weaker economic climate, using our FY 25 (Jan.) revenue estimate of $3.97B. We lift our FY 25 EPS view to $3.95 from $3.68 and set FY 26’s at $4.94. CRWD reported Q4 revenue of $845.3M, above consensus by $5.34M, while non-GAAP EPS of $0.95 beat by $0.13. The company ended the year strong, adding $287M in net new ARR, up 27% Y/Y, driving Subscription sales and total revenue growth of 33%. We note impressive deal volumes, aided by multi-product new business lands, and displacements of next-generation vendors in significant transactions across a number of product categories, including in cloud security and security operations (LogScale SIEM). We think CRWD’s Q1 net new ARR guide and FY 25 outlook reflect solid momentum on multiple fronts, while capability enhancements in Cloud and GenAI innovations boost our view of CRWD.