Here's Why Wells Fargo Named CrowdStrike As Top Pick For 2022

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  • Wells Fargo analyst Andrew Nowinski initiated coverage of CrowdStrike Holdings CRWD with an Overweight rating and a $275 price target, implying a 53.4% upside.
  • The analyst sees CrowdStrike being well-positioned to continue to take share from both legacy and next-gen vendors with "one of the most comprehensive platforms in the industry." 
  • Nowinski named the stock as a top pick for 2022. 
  • He calls ARR "the most important metric to measure the health of CrowdStrike" and the success of its new modules.
  • Nowinski believes the Street is not factoring in enough contribution from the new products and modules, which results in ARR being "largely" underestimated in the consensus view.
  • Price Action: CRWD shares traded higher by 0.26% at $179.75 in the premarket session on the last check Thursday.
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