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MKM Partners sees upside to $240

MKM Partners sees upside to $240

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CrowdStrike Holdings Inc (NASDAQ: CRWD ) is down nearly 30% year-to-date, but an analyst at MKM Partners is convinced the stock will make a full recovery over the next twelve months.

CrowdStrike stock could jump 40% from here

On Friday, Catherine Trebnick took “one of the most comprehensive cloud-based platforms” with a buy rating and set a price target of $240 per share. In a note to customers, he said:


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The cloud-based architecture allowed CrowdStrike to expand capabilities beyond Endpoint Security with 22 modules covering a $71 billion market opportunity in FY24. We believe that the company is in a league of its own.

Last month, CrowdStrike reported its fiscal second quarter results that exceeded both the high and low estimates. It now forecasts $5.0 billion in annual recurring revenue by 2026, up from $3.0 billion last year.

Joe Terranova is also bullish on CrowdStrike

CrowdStrike has maintained revenue growth of more than 55 percent for ten consecutive quarters. Joe Terranova of Virtus Investment Partners also said on Friday that it was his favorite stock “in the cyber security space.”

Cyber ​​security can work for you. You’ve seen it with CrowdStrike. Market struggles are a headwind, but I’m holding CrowdStrike through this because I believe on the other side of it that it will emerge victorious.

MKM’s analyst views the cybersecurity industry as generally bullish, as he launched four other names (Fortinet, Zscaler, CyberArk and Palo Alto Networks) that also have “buy” ratings.

The Global X Cybersecurity ETF is down nearly 20% as of this writing.

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Source: https://invezz.com/news/2022/09/17/crowdstrike-stock-price-forecast/

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