CrowdStrike bulls are out in full force as stock slips: ‘Things are still in very good shape’

CrowdStrike Holdings Inc. found its share of defenders Thursday even as the cybersecurity company’s latest earnings report propelled its stock lower.

“We recommend investors take a step back and look at the big picture,” SVB MoffettNathanson analyst Sterling Auty wrote, as shares of CrowdStrike CRWD dropped 4% in Thursday morning action.

“The core demand drivers of the business remain very healthy, net new ARR from $1m-plus customers grew [year over year], win rates remain unchanged, and [CrowdStrike] entered [the fiscal second quarter] with a record pipeline,” he wrote, while sticking with an outperform rating and $190 target price. “We would also call out that the trend towards vendor consolidation is playing into [CrowdStrike’s] favor as they closed over 50% more deals with eight or more modules compared to a year ago.

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