JPMorgan Lifts CrowdStrike (CRWD) Price Target to $500, Maintains Overweight Rating

On June 2, JPMorgan analysts increased the price target for CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock to $500 from $450 and maintained an Overweight. The adjustment comes amid expectations that the company will deliver strong quarterly results affirming growth and profitability improvement.

Over the past year, CrowdStrike’s performance has been strong, with the stock delivering a 50.28% return. It has also achieved a 29.39% revenue growth over the same period. Its revenue growth rate has surpassed industry averages.

JPMorgan analysts view the company’s strategic moves and higher product adoption rates as positives that affirm solid underlying fundamentals. Consequently, they expect it to deliver strong retention rates, improved attach rates, and healthy platform utilization. Nevertheless, the analysts are cautious given the macroeconomic challenges that could affect CrowdStrike market sentiments.

S&P Global Ratings has already revised CrowdStrike’s Outlook to positive from stable while affirming its BB+ credit rating. The rating underscores strong operating performance amid expectations of annual recurring revenue rising to $5 billion next year.

CrowdStrike Holdings is a technology company that provides cybersecurity solutions. Its unified platform provides cloud-delivered protection of endpoints, cloud workloads, identity, and data through software as a service (SaaS) subscription-based model.

While we acknowledge the potential of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRWD and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.