Benchmark raised CrowdStrike's price target to $700 from $500 ahead of the company's June 3 earnings report. The upgrade joins bullish revisions from Stifel and KeyBanc, all citing strong channel demand for the Falcon platform and AI security products.
Benchmark raised CrowdStrike Holdings Inc.'s price target to $700 from $500, joining a wave of bullish revisions ahead of the cybersecurity firm's fiscal first-quarter earnings on June 3.
"The channel feedback supports a constructive setup into the print," Stifel analyst Adam Borg said in a May 22 note, after raising his target to $660 from $480. Stifel surveyed 25 CrowdStrike resellers and found partners bullish on fiscal 2027 growth by a 3-to-1 ratio. KeyBanc followed on May 18 with a $700 target, up from $525, citing Mythos-driven spend pull-forward as a key catalyst for the quarter.
CrowdStrike shares traded near $638, implying roughly 10% upside to Benchmark's new target. The stock has gained about 3% over the past week as analyst revisions accumulated, though the rally has widened the gap between bulls and bears. DZ Bank downgraded the stock to Sell with a $500 target on May 19, warning that valuation leaves no room for execution slippage. Mizuho also issued positive channel checks, noting that cybersecurity spending remains strong and that AI is creating new threats rather than crowding out security budgets.
The company closed fiscal 2026 with $5.25 billion in ending annual recurring revenue and $4.81 billion in full-year revenue, up 22% year over year. Falcon Flex ARR reached $1.69 billion, up 120% year over year. CrowdStrike trades at roughly 109 times forward earnings and 33 times sales, according to data compiled by Bloomberg. The stock carries a market capitalization of about $157.5 billion.
The flurry of upgrades points to Wall Street's confidence in CrowdStrike's AI security narrative driving sustained growth. Investors will watch the June 3 earnings call for guidance on fiscal 2027 billings and whether the Mythos product launch is pulling forward demand as KeyBanc's channel checks suggest.
This article is for informational purposes only and does not constitute investment advice.
