Piper Sandler upgraded its price target on CrowdStrike Holdings to $240 from $188, citing accelerating demand across the company’s Falcon platform and a shift in enterprise security spending.
The firm maintained an above-average rating for the cybersecurity provider, noting a 51% year-over-year increase in net annual recurring revenue to $333 million, the strongest growth since 2021 excluding a July 19 effect. The figure exceeded the FactSet consensus estimate of $284 million.
CrowdStrike’s stock was trading at $218.89 at the time of the update, 3.8% below its 52-week high of $227.50. The shares closed at $218.40 on August 28, down 4.19% or $9.56, following broader market weakness. In after-hours trading, the stock slipped an additional 0.30% to $217.75.
Peer firms have also raised their targets in recent weeks. Cantor Fitzgerald set a $250 target with an outperform rating, while RBC Capital set its target at $260, also with an outperform rating. Needham, Stifel, and Scotiabank each assigned targets of $250, $240, and $250, respectively.
The valuation remains elevated, with CrowdStrike trading at roughly 30 times estimated revenue for calendar year 2027. InvestingPro analysis flags the stock as overvalued relative to its Fair Value estimate, ranking it among overvalued equities based on more than 13 ProTips.
