CrowdStrike Stocks Gain 2.6% as Needham Lifts Target 24%

Zscaler (ZS) shares rose 6% to $230.74 after reaffirming its full-year revenue outlook of $3.91B-$3.94B and announcing a security partnership with IBM (IBM) and Red Hat. Palo Alto Networks (PANW) and CrowdStrike (CRWD) also gained 4%. The First Trust NASDAQ Cybersecurity ETF (CIBR) rose 3%, outperforming the S&P 500.

CrowdStrike (CRWD) shares rose 2% in pre-market trade after Needham raised its price target to $310, citing growth from the company's Flex subscription model. Needham noted that Flex increases annual recurring revenue by 40% on average and drives further expansion. CRWD stock has surged 124% this year, with other firms also raising price targets.

CrowdStrike (CRWD) received price target increases from BMO Capital ($295, 12% upside) and StoneX ($325, 24% upside) due to confidence in its growth, particularly its Flex subscription model. CRWD stock has risen over 124% this year.

Needham raised its price target for CrowdStrike (CRWD) to $310 from $250, citing strong demand for its Flex offering and Next-Gen SIEM. The stock is up 107% over the past year. Multiple analysts have recently adjusted their price targets, with some expressing concerns about valuation. CrowdStrike reported 24% revenue growth.

Needham raised its price target for CrowdStrike from $250 to $310. The company's stock is currently trading at $263.01, down 0.92% in pre-market. The adjustment reflects positive analyst sentiment.

Needham reaffirmed its Buy rating on CrowdStrike (CRWD) with a $310 price target, suggesting a 17.9% upside from the last close. The firm cites strong growth potential in AI-driven security solutions and increased platform adoption due to the Flex tool. Recent analyst price targets for CRWD range from $280 to $325.