CrowdStrike's Potential Revenue Shortfall Won't Deter Growth, Analyst Says

Piper Sandler analyst Rob D. Owens reiterated an Overweight rating on CrowdStrike Holdings, Inc CRWD with a price target of $290.

Delta Air Lines Inc DAL COO Mike Spanos shared plans to depart the company at the end of August, a little more than a month after the CrowdStrike outage, which caused Delta to file a lawsuit against CrowdStrike. The outages have reportedly cost Delta $350 million—$500 million, rendering about 60% of Delta’s critical applications inoperable.

Also Read: CrowdStrike Shares Showing Signs Of Recovery After Microsoft Outage: Can Q2 Earnings Help Continue Trend?

Owens expects minimal impact on the quarter’s revenue from the outage but expects NNARR to come in below expectations and the full-year guidance to see a prudent cut.

KeyBanc analyst Eric Heath, in this week’s Security Roundup, flagged that Microsoft Corp MSFT and CrowdStrike will host a Windows Endpoint Security Ecosystem Summit to discuss steps to improve security and resiliency for joint customers. Heath added that CrowdStrike denied reports indicating its interest in acquiring Action1 for $1 billion.

Price Action: CRWD stock traded lower by 0.57% at $269.98 at last check Monday.

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• CrowdStrike Blames Error With Test Software For Taking Down 8.5M Windows Computers Globally, Says A New Check Process Is In The Works