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Investing.com - Piper Sandler has reduced its price target on CrowdStrike Holdings (NASDAQ:CRWD) to $450.00 from $505.00 while maintaining a Neutral rating on the cybersecurity firm. The stock, currently trading at $422.61 with a market capitalization of $105.57 billion, has seen 31 analysts revise their earnings estimates upward for the upcoming period, according to InvestingPro data.
The adjustment comes as CrowdStrike reported that its Net New Annual Recurring Revenue (NNARR) returned to positive growth, as the company begins to cycle through the comparative period affected by last year’s security incident.
Piper Sandler noted that despite this improvement, the impact from the incident continues to dampen revenue in the near-term, with subscription revenue meeting but not exceeding expectations for the second consecutive quarter.
The research firm highlighted CrowdStrike’s strong guidance for second-half NNARR growth of 40%, which exceeded Street expectations and will likely be viewed positively by bullish investors.
However, Piper Sandler indicated that the company’s decision not to raise its overall revenue guidance could provide ammunition for bearish perspectives on the stock.
In other recent news, CrowdStrike Holdings Inc. reported robust financial results for the second quarter of fiscal year 2026, exceeding analysts’ expectations. The company achieved an earnings per share of $0.93, which surpassed the forecasted $0.83, resulting in a 12.05% surprise. Revenue for the quarter reached $1.17 billion, slightly higher than the anticipated $1.15 billion. These developments highlight CrowdStrike’s strong performance in the cybersecurity sector. The earnings announcement was followed by an increase in the company’s stock price. Analysts continue to monitor CrowdStrike’s financial health and market position closely. The positive earnings report reflects the company’s ability to meet and exceed market expectations. Investors may find the continued growth in revenue and earnings per share encouraging.
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