Crowdstrike Holdings Inc. (NASDAQ: CRWD) is rated as a ‘Buy’ at Truist Securities with a $500 price target. The stock has seen a 71% gain over the past year and is considered one of the best tech stocks for long-term investment.

Truist Securities is optimistic about Crowdstrike’s growth prospects, especially in net new annual recurring revenue. CFO Burt Podbere highlighted the strength of emerging businesses and the effectiveness of the Flex licensing model driving this growth.

CrowdStrike aims to reach $10 billion in total annual recurring revenue by 2031, leading the company to explore mergers and acquisitions for further growth opportunities and market expansion.

Crowdstrike Holdings Inc. is a global cybersecurity company providing cloud-delivered protection for endpoints, cloud workloads, identity, and data through its AI-powered Falcon platform. The company focuses on preventing cyberattacks and breaches through various cloud modules offered via a subscription-based SaaS model.

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Read more at Yahoo Finance: Crowdstrike Holdings Inc. (CRWD) Rated as a ‘Buy’ at Truist Securities