11:19 AM EDT, 05/28/2024 (MT Newswires) -- CrowdStrike Holdings ( CRWD ) could surpass $100 billion market value within the next 12 months and to nearly double in four to five years, Morgan Stanley said in a Tuesday note.

Morgan Stanley pointed to catalysts that include its fiscal Q1 results next week, potential inclusion in the S&P 500 in early June and the September analyst day where management likely forecasts annual recurring revenue of $10 billion by 2028.

"Bottom line, given improving win rates, a broader platform story and strong execution track record, we move CRWD to our Top Pick," the report said.

Morgan Stanley said it expects the company's ARR to "comfortably" surpass $5 billion in 2025 and to double to more than $10 billion by 2028 due to broader platform adoption, improving win rates and potential for artificial intelligence monetization.

Morgan Stanley lifted its price target on CrowdStrike ( CRWD ) to $422 from $372 and maintained its overweight rating.

Price: 349.74, Change: -1.73, Percent Change: -0.49