Shares of CrowdStrike Holdings Inc (NASDAQ:CRWD) are trading lower on Monday, pulling back after staging a strong rally the week prior.
What To Know: CrowdStrike shares are up approximately 12% over the past five trading sessions after the company introduced new annual recurring revenue (ARR) targets at its Fal.Con 2025 event in Las Vegas last week.
CrowdStrike guided for ARR growth of 20% in fiscal 2027 and introduced a new ARR target of $20 billion by fiscal 2036.
Numerous analysts raised price targets following the investor event, which helped push shares higher last week. Price target adjustments continue to roll in on Monday with Rosenblatt raising its target from $490 to $550 and Canaccord Genuity raising its price target from $430 to $500.
CrowdStrike also announced an expansion with KPMG on Monday. KPMG is adopting Falcon Next-Gen SIEM and expanding use of the Falcon platform through CrowdStrike’s Engagement License Program to deliver new services.
KPMG expects to strengthen its existing cybersecurity offerings using the CrowdStrike platform to support clients as they modernize security operations, upskill their people and drive efficiencies and cost savings.
“Adversaries are weaponizing AI to move faster than ever, and legacy security operations can’t keep up,” said Daniel Bernard, chief business officer at CrowdStrike.
“Falcon Next-Gen SIEM is the engine powering the modern SOC. With KPMG collaborating on Falcon Next-Gen SIEM and expanding adoption of the Falcon platform, clients can modernize security operations that are smarter, faster, and built to stop breaches.”
This new collaboration addresses organizations overwhelmed by costly and inefficient legacy SIEMs. Falcon Next-Gen SIEM would benefit clients from both companies, delivering up to 80% lower costs and 150% faster search compared to legacy platforms.
CRWD Price Action: CrowdStrike shares were down 0.79% at $498.58 at the time of publication on Monday, according to Benzinga Pro.
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