CrowdStrike Bags 2 Price Target Raise Amid Cybersecurity Breach Concerns - CrowdStrike Holdings (NASDAQ:CRWD)

Piper Sandler analyst Rob Owens reiterated an Overweight rating on CrowdStrike Holdings Inc's CRWD and raised the price target to $280 from $250. The new price target implies a 6.3% upside at current levels.
Owens' research note stated that channel checks and survey results going into Q2 earnings indicate significant security spending ramp up following the alarming ransomware attacks.
Owens saw broad-based improvement over already strong survey results last quarter. He expects robust results and guidance in the June quarter.
BTIG analyst Gray Powell reiterated a Buy rating and raised the price target on CrowdStrike to $302 from $256. The new price target signifies a 14.7% upside potential.
Powell shared a positive discussion recently with CFO Burt Podbere.
Podbere highlighted strong demand trends over the recent quarters. The demand was likely to sustain over the longer term, backed by digital transformation initiatives and cloud architecture adoptions.
CrowdStrike also indicated that multiple new product categories, including Humio, Cloud Security, and Identity noted strong demand.
Separately, NBC News reported the U.S. cybersecurity industry's struggle to keep up with the growing ransomware attacks. Software company Kaseya was the latest cyberattack victim, which infected over 1,500 organizations last weekend. The dearth of cybersecurity workers further aggravated the situation. Possible victims include CrowdStrike.
Price action: CRWD shares traded lower by 0.21% at $262.85 on the last check Friday.

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