CrowdStrike Receives Price Target Increase from Morgan Stanley
Analysts Forecast Strong Earnings for Cybersecurity Provider
Morgan Stanley Raises Target to $175
Morgan Stanley has raised its price target for CrowdStrike Holdings (NASDAQ: CRWD) to $175 from $167, citing the company's strong margin targets. The brokerage firm maintains an "Overweight" rating on CrowdStrike and believes the company is well-positioned to benefit from the increasing demand for cybersecurity solutions.
Analysts have also revised their earnings estimates for CrowdStrike. The consensus target for earnings per share (EPS) in 2023 has been raised to $2.90 from $2.72, while the EPS target for 2024 has been increased to $3.72 from $3.55. The consensus revenue target for 2023 has also been lifted to $2.2 billion from $2.1 billion.
CrowdStrike's strong financial performance has been driven by the growing need for cybersecurity solutions. The company's Falcon platform provides a wide range of security services, including endpoint protection, threat intelligence, and incident response. CrowdStrike has also been expanding its product portfolio through acquisitions, such as the recent acquisition of Remediant.
Analysts believe CrowdStrike is well-positioned to continue its growth trajectory. The company has a strong track record of execution and is well-funded. CrowdStrike is also benefiting from the increasing demand for cybersecurity solutions and the growing awareness of cybersecurity threats.
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