11:15 AM EDT, 08/29/2024 (MT Newswires) -- CrowdStrike Holdings ( CRWD ) shares are expected to be "range-bound" until investors gained clarity around the firm's fiscal 2026 growth trends but its long-term growth opportunity remains "intact", Oppenheimer said in a Wednesday note.

The firm still has uncertainty in the near future but its fiscal Q2 results should reduce investors' concerns of a worst-case situation, analysts led by Ittai Kidron wrote.

CrowdStrike ( CRWD ) managed to report an 11% growth in net new annual recurring revenue despite the July 19 outage impact, the analysts said.

Oppenheimer expects the company to report fiscal Q3 earnings of $0.80 per diluted share on revenue of $982 million.

CrowdStrike's ( CRWD ) price target was lowered by Oppenheimer to $365 from $450 with an outperform rating.

Shares of the company were up 5.8% in recent Thursday trading.

Price: 279.57, Change: +15.37, Percent Change: +5.82