CrowdStrike (CRWD) is heading in the right direction after the 2024 summer IT outage, with deals starting to close earlier than expected, Wedbush said in a Wednesday note.
The company has also discontinued its customer commitment package program due to its "increased" confidence for fiscal 2026, analysts led by Daniel Ives wrote.
CrowdStrike is still the "gold standard" for cybersecurity as the 2024 outage is now mostly in the backview and net new annual recurring revenue growth is anticipated to reaccelerate, the analysts said.
The company's fiscal Q4 "reaffirms our positive long-term view" about it, Wedbush said.
Wedbush raised CrowdStrike's price target to $395 from $390 and maintained an outperform rating on the stock.
Shares of the company were down over 10% in recent Wednesday trading.
Price: 349.95, Change: -40.21, Percent Change: -10.31
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