Guggenheim Reiterates Neutral Rating on CrowdStrike Holdings (CRWD)

Guggenheim analyst John DiFucci reiterated a Neutral rating on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst commented: "We see risk to CRWD’s F3Q and FY26 Total Revenue, though ARR appears achievable for both. Our field checks this quarter and pipeline expectations continue to lean more positive and based on our conversations with partners, it was clear that CRWD remains the leader in this category and traction with Falcon Flex is starting to pick up. In addition to this preview, we put out an accompanying note, Another Reason to Like CRWD: Analysis of F500 SaaS Leader’s Falcon Flex Journey, where we revisited and analyzed information provided at CRWD’s Investor Briefing at its Fal.Con Conference in September regarding the potential for CRWD to boost growth by leveraging the growth of a hyperscaler (Oracle in this case) feeding the AI buildout happening today, and how Falcon Flex is helping to enable this. We came away feeling more positive on CRWD’s ability to monetize Falcon Flex beyond CCP, at least partially enabled by CRWD’s relatively new Financing options. We also believe there is plenty of opportunity for the company to penetrate the U.S. Federal government vertical and grow its top line, though right now, we estimate New ARR from this source was less than 1% of our Plausible New ARR estimate for this quarter. With the stock currently trading at 24x EV/NTM Subscription Revenue and >100x our EV/NTM FCF, one of the highest in our coverage universe, we remain Neutral. CrowdStrike reports F3Q26 earnings on Tuesday, December 2nd, after market close."

For an analyst ratings summary and ratings history on CrowdStrike Holdings click here. For more ratings news on CrowdStrike Holdings click here.

Shares of CrowdStrike Holdings closed at $490.67 yesterday.

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