Quarterly financial reports

Morgan Stanley Raises CrowdStrike Price Target to $422, Maintains Buy Rating, Sees 7% Increase

May 28, 2024, 12:01 PM

Morgan Stanley has reiterated its Buy rating on CrowdStrike (CRWD) and raised the price target to $422 from $372. The firm believes that CrowdStrike will surpass $5 billion in Annual Recurring Revenue (ARR) by the calendar year 2025, positioning it ahead of its peers in the SaaS sector. Morgan Stanley also named CrowdStrike as a top pick and sees the company's market capitalization topping $100 billion over the next year. The stock saw a 7% increase following the announcement. Morgan Stanley maintains its Overweight rating on the stock.