Analysts are impressed with the financial results and company commentary from CrowdStrike Holdings Inc (NASDAQ:CRWD) beating revenue and earnings per share estimates in the second quarter.
The company’s impact from the update that caused the Microsoft outage is viewed as less impactful than analysts originally forecasted.
The CrowdStrike Analysts: Goldman Sachs analyst Gabriela Borges maintained a Buy rating and a $295 price target.
Cantor Fitzgerald analyst Yi Fu Lee reiterated an Overweight rating and lowered the price target from $400 to $350.
BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating and raised the price target from $290 to $315.
Truist analyst Joel Fishbein reiterated a Buy rating and $325 price target.
Read Also: CrowdStrike Shares Showing Signs Of Recovery After Microsoft Outage: Can Q2 Earnings Help Continue Trend?
Goldman Sachs on CRWD: High customer engagement and regaining share momentum were key takeaways from the company's earnings for Borges.
"Early commentary suggests temporary not structural slowdown," Borges said.
The analyst said CrowdStrike expects $60 million in deal value pushed out of the second quarter, a $30 million impact to subscription revenue in the third and fourth quarters and a high-single-digit millions impact to professional services in the second half.
Company guidance shows these impacts along with a broader slowdown, the analyst added.
"CrowdStrike noted that customer engagement is high post the incident."
The company also said several deals have closed since the July ...
