08:39 AM EDT, 08/28/2025 (MT Newswires) -- CrowdStrike's ( CRWD ) channel success will continue as a growth catalyst as its partners sourced more than 60% of new business in fiscal Q2, Truist Securities said in a Wednesday note.

The cybersecurity technology firm posted "solid" fiscal Q2 results due to robust platform demand, Falcon Flex, and deals, analysts led by Junaid Siddiqui wrote.

Falcon Flex is proving to be an "increasingly" material catalyst for the company, as CrowdStrike ( CRWD ) added over 200 new Flex clients to more than 1,000 total, the analysts mentioned.

CrowdStrike's ( CRWD ) emerging business is likely to be a key growth driver of attaining its goal of $10 billion in total annual recurring revenue by fiscal 2031, the note said.

The company also said overnight it agreed to acquire Onum, a data infrastructure company, for undisclosed sum.

Truist Securities maintained CrowdStrike's ( CRWD ) rating at buy with a $500 price target.

Shares of the company were down 3.4% in recent Thursday premarket activity.