Jefferies increased its price target on CrowdStrike Holdings Inc. to $240 from $230 while maintaining a Buy rating, citing the cybersecurity firm’s upgraded fiscal 2027 annual recurring revenue guidance.
The new midpoint target of $6.608 billion for fiscal 2027 implies 25.8% year-over-year growth, exceeding the consensus estimate of $6.545 billion by $63 million. This represents a $64 million increase at the midpoint from the prior guidance issued following the second-quarter results, which had already exceeded expectations.
CrowdStrike’s guidance now implies $421 million of net new annual recurring revenue, with management raising its fiscal 2027 net new ARR outlook by 630 basis points quarter-over-quarter. The cumulative increase since the start of the year exceeds $100 million, marking the sixth consecutive quarter of total ARR growth acceleration.
The upgrade follows CrowdStrike’s fiscal second-quarter performance, where adjusted earnings reached $0.31 per share on revenue of $1.47 billion, surpassing analyst expectations. Revenue growth was supported by broad-based adoption across the Falcon platform, including strength in Endpoint, ADR, Next-Gen SIEM, Identity, Cloud Security, and Exposure Management. AIDR ARR nearly tripled quarter-over-quarter, while Cloud, Next-Gen SIEM, and Next-Gen Identity ending ARR reached $2.18 billion, up 39% year-over-year.
CrowdStrike’s shares have gained 103% over the past six months, closing at $185.38 on August 26, down 2.78% for the session. After-hours trading showed a marginal increase to $185.60.
