CRWD: Early Preview Checks and Pre Quiet Period Call Takes

Research evidence excerpt

CRWD: Early Preview Checks and Pre Quiet Period Call Takes

July 15, 2026 CrowdStrike Holdings, Inc.

(CRWD, Buy, $237 PT)

Gray Powell, CFASECURITY CRWD: Early Preview Checks and Pre Quiet Period Call Takes (212) 882-2348 gpowell@btig.com

Trevor Rambo WHAT YOU SHOULD KNOW: During our on cycle field checks over the last few weeks,AND (212) 593-4461 trambo@btig.com we were able to pick up some compelling data points on CRWD from six industry Company Data

contacts (3 partners, 2 industry experts / cyber advisory firms, and an industry analyst).

In addition, we participated in a pre-quiet period call with IR last week. All in, our work Closing Price $209.00

points towards a positive demand environment with AI creating incremental tailwinds Price Target $237.00

for CRWD’s core endpoint security offering. In addition, we picked up positive feedback Market Cap (M) $216,106.00

on emerging product initiatives – most notably Next Gen SIEM as well as Exposure Enterprise Value (M) $213,414.70

Management and AI Detection and Response (AI DR). While two weeks remain in FQ2, Shares Out (M) 1,034.00

we came away from our work with increased confidence in our outlook this quarter. Avg Daily Vol-3 Months (M) 12.56

In an upside scenario, we think CRWD could post ARR growth of 25.0% in FQ2 vs. the

Street at 24.4%. We also adjusted our model for CRWD’s previously announced 4:1 Dividend / Yield $0.00 / 0.0%INFRASTRUCTURE stock split. And we increased our PT to $237/share. Revisions

Early Field Checks Point Towards Positive Demand. All contacts called out a positive Previous Current

demand environment for CRWD. Our largest check with ~$200MM in annual CRWD Rating Buy Buy

sales came in above plan in CQ2'26 with growth of 18% versus a target of 14% - 15%, Price Target $191.00 $237.00