Stifel lowers CrowdStrike price target to $300 ahead of Q2 earnings

From Nasdaq: 2024-08-12 03:37:27

Stifel Nicolaus analyst Adam Borg has lowered CrowdStrike Holdings’ price target to $300 with a Buy rating ahead of their Q2 earnings report on August 28. A recent tech outage caused by CrowdStrike raised concerns about its impact and potential on earnings.

Despite short-term challenges, Borg remains bullish on CRWD stock due to transparency and strong cybersecurity technology. He believes in the company’s long-term potential and its ability to recover from operational errors.

Analysts expect CrowdStrike to report Q2 revenue of $959.22 million, up 31.1% from the prior year, with earnings of $0.98 per share. Options traders are anticipating a 12.91% move in either direction after earnings, as CRWD stock is known for making large post-earnings moves.

Analysts recommend buying CrowdStrike stock ahead of Q2 earnings, with a Strong Buy consensus rating and an average price target of $355.63, implying a 47.63% upside potential from current levels. The stock has seen a 25% decline in the past three months.



Read more at Nasdaq: CrowdStrike Stock (CRWD): Stifel Cuts Price Target Ahead of Q2 Results