According to the financial news app, investment bank Baird stated that despite some recent visibility challenges for CrowdStrike (CRWD.US), most of the company's latest financial updates are positive. The bank has given it an "outperform" rating, with a target price of $315.

CrowdStrike provided several financial updates at its annual cybersecurity conference, and although there have been some visibility challenges recently, the company believes that most of these updates are positive.

Analyst Shrenik Kothari said, "CrowdStrike remains committed to achieving a $10 billion ARR target this fall. However, after the global "BSOD" crisis on July 19, short-term visibility challenges have brought some near-uncertainty, leading to a lowering of short-term expectations."

Kothari pointed out that based on its customer commitment packages, contract extensions, and delayed spending, "suppressing some annual recurring revenue (ARR) momentum," will have an impact of $60 million in the second half of this year.

Nevertheless, Kothari remains bullish on CrowdStrike's long-term prospects, indicating that by the 2031 fiscal year, cloud security ARR will be between $2.5 billion and $3 billion. In addition, identity protection will reach $1 billion to $1.5 billion, and next-generation security information and event management will reach $1.5 billion to $2 billion.

The company also mentioned that by 2029, its broader total addressable market will reach $250 billion, higher than next year's $116 billion.

Kothari stated: "CrowdStrike maintains a 98% overall retention rate, showcasing user loyalty and platform stickiness, with the lowest churn rate. Through the Falcon Flex model and customer commitment package, the company will continue to deepen relationships with existing customers, focusing on expanding and accelerating module adoption."