Although CrowdStrike Holdings Inc (NASDAQ: CRWD) delivered another strong quarter with improvements in key matrices, the stock valuation is high relative to peers, according to Baird.
The Analyst
Baird’s Jonathan Ruykhaver maintained a Neutral rating for CrowdStrike, with a price target of $65.
The Thesis
CrowdStrike reported its fiscal third quarter revenue and earnings higher than the consensus estimates on the back of solid subscription revenue growth, Ruykhaver said in the note.
Calculated billings grew 100% year-on-year, beating Street expectations. Management guided to fiscal fourth quarter revenue of $135.9-$138.6 million, higher than the current consensus estimate of $127.2 million.
Read more here: https://finance.yahoo.com/news/crowdstrike-delivers-another-quarterly-beat-163318690.html
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