Several CrowdStrike Holdings (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report analysts on Thursday were raising their price targets after the cybersecurity company beat Wall Street's quarterly expectations.
Shares of the Sunnyvale, Calif., company at last check were 15% higher at $163.84.
CrowdStrike topped estimates for its fiscal third quarter on strong subscription growth for its cloud security offerings, and it offered upbeat guidance.
The company "is the best positioned to capitalize on the consolidation of endpoint with its technology advantage and experienced management team. [Thus] our overweight rating," said J.P. Morgan analyst Sterling Auty, who raised his stock-price target to $175 from $160.
CrowdStrike, Auty said, "was born in the cloud, which we expect creates competitive advantages that leverage hyperscale and performance benefits of cloud computing."
Jefferies analyst Brent Thill raised his price target to to $160 from $150, saying CrowdStrike's return on investment "as a security cloud becomes more evident with customers shifting toward a distributed and remote workforce and as it displaces legacy and [next-generation] vendors."
"CrowdStrike provides state-of-the-art, next-generation endpoint technology with a foundation in its unique graph database and lightweight agent, which leverages artificial intelligence and machine learning," Thill said.
"Integrated technologies beyond endpoint will likely make CrowdStrike stickier than traditional endpoint vendors."
At Piper Sandler, analyst Rob Owens raised his price target on CrowdStrike to $180 from $175 while affirming an overweight rating.
Owens said the third-quarter report "shows leadership strength, momentum and category growth, while scale continues to impress."
CrowdStrike remains a "meaningful beneficiary" of both digital transformation and endpoint replacement cycle, the analyst said.