CrowdStrike (CRWD) Price Target Reiterated After Solid Q3 Results

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) ranks among the best high growth stocks to buy now. Following CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s fiscal third-quarter results, DA Davidson reiterated its Buy rating and $580 price target for the company’s shares. The cybersecurity company had a solid quarter, with annual recurring revenue (ARR) growth increasing to 23% year-over-year, up from 20% the prior quarter. Meanwhile, net new ARR totaled $265 million, beating consensus projections of $238 million.

CrowdStrike’s guidance now anticipates more than 50% increase in net new annual recurring revenue in the second half of fiscal year 2026, and more than 20% growth in fiscal year 2027 from a higher base. CrowdStrike’s fourth-quarter net new ARR was about $301 million at the midpoint of the forecast, in contrast to the average estimate of $290 million, implying 23% year-over-year increase to end the year.

Additionally, the company reaffirmed its fiscal year 2027 goals, which include a year-over-year net new ARR increase of more than 20%. That said, CRWD shares showed a modest decline in after-hours trading despite the impressive results, which DA Davidson attributed to “very high expectations.”

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) offers cybersecurity services and products to prevent breaches. Its offerings include cloud-delivered protection across endpoints, threat hunting, managed security services, IT operations management, log management, and more.

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Disclosure: None. This article is originally published at Insider Monkey.