CrowdStrike Holdings (CRWD)

Hold Recap: Q1 FY27

Downgrading CrowdStrike to Hold: A Genuine Beat-and-Raise and a Real AI Inflection — But a Billings Miss and a Near-Double to ~31x Sales Make This a Price Call, Not a Business Call

Outperform Recap: Q4 FY26

Maintaining CrowdStrike at Outperform: A Blockbuster $5B-ARR Finish, GAAP Profitability Returns, Microsoft Opens Its Marketplace — and the Stock Is 24% Cheaper Than at Our Upgrade

Outperform Recap: Q3 FY26

Upgrading CrowdStrike to Outperform: The Reacceleration Doesn't Just Confirm — It Accelerates, the Back-Half Guide Jumps to 50%, and AWS Makes Falcon Its Default SIEM

Hold Recap: Q2 FY26

Initiating CrowdStrike at Hold: Reacceleration Arrives a Quarter Early and Falcon Flex Crosses 1,000 Customers — But the Multiple Already Prices the Recovery