01:25 AM EDT, 06/11/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Shares of CRWD ended the trading day on Monday up more than 7% on news that the company will be joining the S&P 500 on June 24. CRWD has been GAAP profitable for the last five quarters, one of the requirements for inclusion in the index. We view this as a positive development for investors, reflecting the financial stability and profitable growth of the company and likely a tailwind for upward price momentum. From a fundamental perspective, CRWD has shown solid execution amid a tough selling environment, bucking the trend with strong Q1 sales results and ARR increase (+34% Y/Y) while driving non-GAAP EPS growth of 63% Y/Y. We maintain our FY 25 (Jan.) EPS forecast at $4.05 and FY 26 EPS view at $4.97. In light of this news, we reiterate our recommendation on shares of CRWD at a Strong Buy, raising our target price to $445 from $382, on a P/E of 105x, in line with its 3-year average, using our next-twelve-months EPS estimate of $4.24.