Here's Why Wells Fargo Named CrowdStrike As Top Pick For 2022
Wells Fargo analyst Andrew Nowinski initiated coverage of CrowdStrike Holdings (NASDAQ: 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.
Latest Ratings for CRWD
Jan 2022 | Wells Fargo | Initiates Coverage On | Overweight | |
Dec 2021 | Daiwa Capital | Initiates Coverage On | Outperform | |
Dec 2021 | JP Morgan | Upgrades | Neutral | Overweight |
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