03:25 PM EST, 11/21/2025 (MT Newswires) -- CrowdStrike ( CRWD ) is running about 5% to 9% ahead of plan for a fourth straight quarter based on October channel checks, Oppenheimer said in a note Friday.

Falcon Flex is helping capture extra year-end budget while also supporting demand across next-generation SIEM, Charlotte AI and CCP renewals, Oppenheimer said.

The firm said its expectations for Q3 fiscal 2026 include subscription revenue growth of about 20.2% from a year earlier, net new annual recurring revenue of $291 million.

The company is expected to post Q3 annual recurring revenue growth of 21.9% and net-new ARR of $291 million, with subscription revenue projected to rise 20.2% from the year before, Oppenheimer analysts noted.

Q4 growth is also expected to accelerate as easier comparisons and more CCP renewals boost subscription momentum.

Confidence in company growth stems from stronger adoption of AI-driven tools, longer-term Falcon Flex deals, and increased traction across both enterprise and SMB markets, according to the note.

The company is expected to post fiscal Q3 results on Dec. 2.

Oppenheimer had an outperform rating for CrowdStrike ( CRWD ) and lifted its price target to $580 from $560.

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