Bernstein raised its price target on CrowdStrike Holdings to $119 from $103 while maintaining a Market Perform rating, following the cybersecurity firm’s second-quarter results that exceeded expectations.
The upgrade reflects Crowdrike’s Q2 Fiscal 2027 net new annual recurring revenue of $333 million, a 51% increase year-over-year and $49 million above FactSet’s consensus estimate of $284 million. The company also raised its full-year ARR guidance by an additional $63 million, building on a prior increase announced in the first quarter. Trailing revenue growth stood at 23% over the last twelve months, while CrowdStrike’s stock has surged more than 103% over the past six months.
Bernstein cited a clear inflection in business momentum, attributing the improvement in part to demand following the Mythos incident. The firm noted that AI-related demand has not yet fully inflected across the broader cybersecurity sector, raising questions about the durability of the acceleration into 2027.
Peer firms also adjusted their targets. Piper Sandler raised its price target to $240, RBC Capital to $260, Needham to $250, and Stifel to $240. Cantor Fitzgerald maintained its $250 target with an Outperform rating. Bernstein’s new target remains well below CrowdStrike’s current trading price of $218.92, which InvestingPro flagged as overvalued relative to fair value analysis.
