Analysts attended CrowdStrike Holdings, Inc's (NASDAQ:CRWD) annual user conference called Fal.Con, where management also hosted an investor briefing
Barclays analyst Saket Kalia had an Overweight and $225 price target. CRWD hosted an investor briefing at its annual Fal.Con conference, where he heard more about the resilience of security spending, the importance of identity for CRWD, and the convergence of security and observability.
One significant security VAR called out overall healthy security spending in August, which continued in September.
Wells Fargo had an Overweight and $250 price target. This week the analyst attended CrowdStrike's annual user conference called Fal.Con, where management also hosted an investor briefing.
The conference's most actionable data point was the panel discussion with the channel partners, including Worldwide Tech and Optiv.
They both noted improving demand trends, and Optiv said the month of August was the strongest in company history. Moreover, they are not seeing any slowdown in demand in September.
There were many other exciting announcements at the conference, including new partnerships, new product launches, and a new acquisition.
CrowdStrike is still the gold standard in the endpoint security market and is expanding the platform across many new areas. The analyst believes they are well-positioned to capitalize on the improving demand trends in the back half of the year.
Mizuho analyst Gregg Moskowitz reiterated a Buy and $230 price target. He attended CRWD's annual user conference, Fal.Con 2022, along with an investor briefing.
With the event, CRWD announced a series of new offerings and innovations and an acquisition of an intriguing external attack surface management company.
In addition, CRWD significantly increased its TAM, and Moskowitz's checks at the event indicated continued strong demand for CRWD's offerings.
More broadly, Moskowitz believes CRWD's cloud platform remains highly differentiated, and we remain confident the company can successfully extend beyond traditional endpoint security markets.
Needham analyst Alex Henderson reiterated a Buy and $225 price target. The conference centered on a few core themes. For CRWD, XDR is what they deliver with their platform, well-designed agents, and data lake/ThreatGraph.
CRWD was doing XDR before the term came into existence in response to what Crowd was doing. Second, ensuring the platform has the right data at the right time and with the right context/telemetry precisely why they built CRWD and the principle it was designed around.
CRWD has never been an "Endpoint" company. It's a cloud-native platform, purpose-built to get and analyze the right data to stop the breach.
Fal.Con highlighted several additional news items, including an extension of its Cloud Workload Protection products, a new acquisition in the External Attack Surface Management sector, and expansion into several adjacencies.
Price Action: CRWD shares traded lower by 0.80% at $175.26 on the last check Wednesday.
Photo via Wikimedia Commons
