Needham raised its price target for CrowdStrike Holdings to $310 from $250, citing the success of the company’s Flex subscription model. Flex lets customers use multiple security products through a consolidated subscription, which Needham says is driving significant revenue growth. The firm’s research found that initial migrations to Flex result in an average 40% increase in annual recurring revenue (ARR).
Analysts at BMO Capital and StoneX have also recently raised their price targets for CrowdStrike. The positive sentiment follows a strong fiscal second quarter and higher full-year guidance, supported by demand for AI-powered cybersecurity.
CEO George Kurtz sold approximately $5.5 million worth of stock on October 6 and 7 under a pre-arranged 10b5-1 trading plan.