Crowdstrike (CRWD) -raised pricing target of Japanese bank after layoffs

Japanese bank Mizuho Securities increased its price target in the Crowdstrike (CRWD) computer giant to $ 425 from $ 410.

Mizuho is still optimistic to the company’s leadership team after he would announce that he would say goodbye to about 5% of his workforce. CRWD also reported that their first quarter financial results would fulfill or exceed their previous orientation.

Safety staff of its consoles, supervising a global network of real -time threats.

Mizuho’s opinions on CRWD

CRWD’s reduction in work force was unexpected, Mizuho reported. However, Mizuho believes that the firm’s management team is “very reflective and pragmatic”. In addition, CRWD leaders are “very focused on profitable climbing business,” added the bank.

Mizuho is also impressed by the raw margin of the firm of almost 75%. In addition, Mizuho praised the CRWD marketing strategy, its cloud security platform and its transfer to new computer security markets. Finally, the bank believes that the company is highly efficient.

More information about CRWD

Analysts expect the firm’s action to drop to $ 3.45 this year from $ 3.93 by 2024. However, the average estimate calls for their EPS to go to $ 4.60 by 2026.

Last month, shares have won 12%, while shares have increased by 1% in the last six months.

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Dissemination: None. This article is originally published in Insider Monkey.