CRWD ($243.43) Holds $237 as Record 51% Net New ARR Growth Meets a 15% Pullback — Close Above $252.85 Opens $275

CrowdStrike opened Wednesday with momentum and lost it within hours. The stock closed Tuesday at $244.68, up $2.87 or 1.19% from Monday’s $241.81, after announcing an AI agent “kill switch” and two AI security acquisitions at its Fal.Con Europe conference in Barcelona. Premarket trading lifted shares to $249.98, up $5.29, and the regular session opened higher, reaching an intraday high of $252.85.

The software selloff then took over. Shares fell as low as $237.21, a $15.64 swing from the high, before recovering to $243.43 by midday, down 0.51% from Tuesday’s close. At one point the stock traded at $241.72, down 1.21%. The stock sits 2.6% above its intraday low and 3.7% below the session’s peak. Volume reached 4.49 million shares by midday, against a daily average of 9.38 million.

At $243.43, CrowdStrike carries a market value of $249.25 billion on 1.02 billion shares outstanding. The 52-week range runs from $85.68 to $286.99. The stock has fallen 7.82% over the past month but holds an 83.23% gain over the trailing 52 weeks. It trades 15.2% below its high.

The pressure came from the sector, not the company. Software stocks extended a selloff Wednesday as investors reassessed valuations amid concerns about AI spending and slowing software bookings. Fortinet’s bookings disappointed the previous week, weighing on cybersecurity names. The Democratic sweep of Congress added rotation pressure as investors priced AI regulation risk, with the Nasdaq-100 lagging the Dow and small caps.

Volatility is part of the stock’s profile. CrowdStrike shares recorded 30 moves greater than 5% over the past year. Wednesday’s intraday range of 6.6% fits that pattern.

The forecast runs from one thesis. CrowdStrike is executing on the largest product opportunity in its history, securing AI agents inside enterprises, and the August quarter proved demand is accelerating with record net new annual recurring revenue of $333 million, up 51%. The software selloff has pulled the stock 15% off its high just four weeks before the December 1 earnings report. At $243, the stock offers an entry ahead of a quarter where the company has guided to another record. The bias is bullish above $237, targeting $275.

Fal.Con Europe: An AI Kill Switch and $495 Million for Two AI Security Startups

CrowdStrike used its European conference in Barcelona to stake its claim on AI agent security. On Tuesday, the company announced an AI Kill Switch through its Falcon Guardian product, designed to stop unauthorized agent activity at runtime. Founder and CEO George Kurtz framed it as the safety mechanism enterprises need to deploy AI agents with confidence, arguing that a kill switch keeps companies in control of their agents.

The company backed the launch with acquisitions. CrowdStrike agreed to buy Fiddler AI, which makes observability software for monitoring AI agents inside enterprises, for about $400 million. It also agreed to buy Dreadnode, which automates security testing for flaws in AI models, applications and agents before they go live, for about $95 million. The combined price is $495 million. Dreadnode, founded in 2023, had raised $14 million.

The Fiddler deal addresses a new kind of threat. AI agents can access corporate applications, retrieve sensitive information and execute tasks using legitimate credentials, which means they don’t need to be compromised to cause harm. CrowdStrike said in announcing the deal that agents don’t have to be hacked to be dangerous. Fiddler’s technology will become Falcon Observe, integrated into the Falcon platform to watch AI agent behavior before it acts.

On Wednesday, the company extended its agentic security operations center to detect and stop what it calls the agent insider threat, and unveiled agentic adversary emulation on the Falcon platform to identify and close exploitable attack paths.

The partnership announcements broadened the reach. CrowdStrike extended Falcon Guardian protection to Anthropic’s Claude Cowork enterprise AI deployments. With AWS, it extended Falcon Guardian to Amazon Bedrock AgentCore Guardrails, protecting AI applications and agentic workflows against prompt injection, sensitive data leakage and malicious AI activity with no separate deployment required. It also introduced the Falcon sensor for Amazon ECS Managed Instances. CrowdStrike partnered with Lovable to secure AI-built applications and with Dynatrace to disrupt legacy security information and event management and observability.

EY committed to building its frontier AI and cyber resilience business on CrowdStrike and training its cyber workforce on the Falcon platform. CrowdStrike also launched a sovereign cloud in Saudi Arabia.

The market reaction was positive but short-lived. Shares rose more than 1% on Tuesday and another 2.2% in premarket trading Wednesday before the software selloff erased the gains.

The August Quarter: Record $333 Million Net New ARR, Up 51%

CrowdStrike’s last earnings report reset expectations for the business. For the fiscal second quarter ended July 31, 2026, the company delivered record net new annual recurring revenue of $332.8 million, up 51% year over year, beating the high end of its guidance by more than $45 million. Kurtz called it the best quarter in the company’s history.

The topline was strong across the board. Total revenue rose 26% to $1.47 billion from $1.17 billion a year earlier, with subscription revenue up 27%. Ending ARR grew 25% to $5.84 billion. The company posted record net new ARR from new logos, and both gross and net dollar-based retention rates improved from the prior quarter.

The quarter showed acceleration, not just growth. In the first quarter, CrowdStrike added $255.8 million in net new ARR, up 32%, on revenue of $1.386 billion. The jump to 51% net new ARR growth in the second quarter came as AI security demand landed in the business.

Profitability improved. Non-GAAP net income rose 34% to $322.9 million, or $0.31 per diluted share, beating the $0.29 consensus estimate and extending CrowdStrike’s streak of earnings beats to nine consecutive quarters. GAAP net income reached $5.3 million, compared with a loss of $70.2 million a year earlier. Gross margin was 79%, up 110 basis points, with subscription gross margin at 81%.

Cash generation hit records. Operating cash flow reached a second-quarter record of $530 million, and free cash flow hit a second-quarter record of $377 million. Cash and equivalents grew to $5.01 billion, enough to fund the $495 million in AI security acquisitions announced Tuesday many times over.

Kurtz tied the acceleration to AI. He said the industry-wide recognition that AI adoption needs security created mass-market demand for CrowdStrike’s platform, and called securing AI the largest market opportunity in the company’s history. The stock jumped by the most in more than two years on the report, according to an investor letter from Polen Capital’s 5Perspectives Large Growth Strategy.

That report explains why the stock nearly tripled from its 52-week low of $85.68 to its peak of $286.99. Investors bought into an acceleration story with numbers attached.

Falcon Flex: $2.29 Billion in ARR, Up 101%

The engine of CrowdStrike’s acceleration is Falcon Flex, its consumption-based licensing model. Ending ARR from accounts that have adopted Falcon Flex exceeded $2.29 billion in the second quarter, more than doubling with growth of 101% year over year. Flex new logo ARR contributed 34% of second-quarter net new ARR, a record share.

Flex changes how customers buy. Instead of purchasing individual modules, customers commit to a pool of spending they can allocate across CrowdStrike’s products as their needs change. Large customers commit to the broader bundle, which makes it easier to adopt new modules such as AI security, cloud protection and next-generation SIEM without new procurement cycles.

That structure is built for the AI security push. When CrowdStrike launches Falcon Guardian’s AI Kill Switch or Falcon Observe from the Fiddler acquisition, Flex customers can activate them from their existing commitment. That shortens the time from product launch to revenue and explains why the company can monetize new AI products quickly.

The next-generation SIEM business added to the momentum. CrowdStrike said its SIEM business delivered another banner quarter driven by record second-quarter net new ARR. The Dynatrace partnership announced at Fal.Con Europe targets the same market, aiming to displace legacy SIEM and observability vendors.

The retention data supports the model. Dollar-based net retention improved from the prior quarter, which means existing customers are expanding spending faster. CrowdStrike calculates net retention by comparing ARR from the same customer base 12 months apart, capturing expansion net of contraction and churn.

The Flex numbers matter for the forecast because they show where growth will come from. At $2.29 billion, Flex accounts adopting the model represent 39% of total ARR of $5.84 billion and are growing four times faster than the company overall. As more customers move to Flex and AI products launch into those accounts, net new ARR growth should stay elevated.

The risk is that Flex makes revenue more variable. Consumption-based models depend on customers drawing down their commitments, and an economic slowdown could reduce usage. So far, the data show the opposite: Flex customers expanding faster than non-Flex customers.

Guidance: FY27 Net New ARR Growth Raised 630 Basis Points to 34%

CrowdStrike’s guidance raise was the bigger story than the quarter itself. The company raised its fiscal 2027 net new ARR growth outlook by 630 basis points to 34% at the midpoint, or $1.35 billion to $1.36 billion. That’s $116 million above its initial outlook for the year and an 1,150 basis-point increase from where it started. The company said a record third-quarter pipeline supported the raise.

The guidance trajectory shows acceleration through the year. After the first quarter, management raised its full-year net new ARR expectation by $52 million to $1.291 billion, implying 27.7% growth. After the second quarter, it raised again to $1.355 billion and 34% growth. Each quarter has brought a bigger raise.

The third-quarter guidance is specific. For the quarter ended October 31, 2026, CrowdStrike guided ending ARR to $6.184 billion to $6.188 billion, implying net new ARR of roughly $345 million, another record. Revenue guidance is $1.52 billion to $1.53 billion, and the company expects a free cash flow margin of 27.5%.

The full-year guidance runs on several lines. Revenue is guided to $5.99 billion to $6.01 billion. Non-GAAP net income is guided to $1.30 billion to $1.31 billion, or $1.25 to $1.26 per share. Ending ARR is guided to $6.603 billion to $6.612 billion. Free cash flow margin is expected at 30% or more.

The math for the second half sets the bar. With $255.8 million in the first quarter and $332.8 million in the second, the company needs roughly $766 million across the third and fourth quarters to hit its $1.355 billion midpoint. That works out to about $383 million per quarter, above the record second-quarter pace. The third-quarter ARR guide implies $345 million, which leaves about $420 million for the fourth quarter, typically CrowdStrike’s strongest seasonally.

That’s a demanding target, but the company’s track record supports it. CrowdStrike has beaten Wall Street’s earnings expectations for nine consecutive quarters, and it beat the high end of its own second-quarter net new ARR guidance by more than $45 million. A similar beat in the third quarter would put net new ARR near $390 million.

December 1 Earnings: The Next Catalyst for CRWD

CrowdStrike set the date for its next report on Wednesday. The company will release results for the fiscal third quarter ended October 31, 2026 after the U.S. market close on Tuesday, December 1, 2026. That’s 27 days from Wednesday’s session.

The quarter is the first full test of the AI security demand story. CrowdStrike guided to roughly $345 million in net new ARR, which would be another record. Revenue guidance of $1.52 billion to $1.53 billion implies growth of roughly 24% to 25% from a year earlier. The Street will focus on whether net new ARR beats the guide by a margin similar to the second quarter.

The key metrics to watch are clear. Net new ARR determines whether the acceleration holds. Falcon Flex ARR growth shows whether the consumption model keeps expanding. Free cash flow margin tests whether growth comes with profitability. Fourth-quarter and full-year guidance will show whether management raises the net new ARR outlook for a third straight quarter.

The AI security products launched at Fal.Con Europe won’t contribute meaningfully to third-quarter numbers. But management commentary on early adoption of the AI Kill Switch, Falcon Guardian on Claude Cowork and Bedrock, and the pipeline for Falcon Observe will shape expectations for fiscal 2028.

The bar is high. After a 51% acceleration in net new ARR and a guidance raise, investors expect another beat-and-raise quarter. A miss on net new ARR or a guidance raise smaller than the previous two would hit the stock hard given its valuation. A beat above $380 million in net new ARR and a full-year raise toward 38% to 40% growth would reignite the rally.

Earnings-day moves have been large. The stock jumped by the most in more than two years on the August report. With 30 moves greater than 5% over the past year, a double-digit move on December 1 is plausible in either direction.

The timing works for buyers. The software selloff has pulled the stock 15% below its high into a quarter where the company guided to a record. That positions CRWD at a lower entry ahead of the report than it would have been a month ago.

The Software Selloff: Fortinet’s Bookings Miss and AI Spending Worries

CrowdStrike’s 7.82% decline over the past month has more to do with the sector than the company. Software stocks have sold off as investors reassessed valuations amid concerns about AI spending and slowing software bookings. The worry is that enterprises are diverting budgets from traditional software to AI infrastructure and AI-native tools, squeezing incumbent vendors.

Fortinet’s bookings miss amplified the selloff in cybersecurity. Bookings at Fortinet disappointed the previous week, raising concerns that security spending might be slowing. That weighed on peers including CrowdStrike, Palo Alto Networks and Zscaler, even though CrowdStrike’s own data show accelerating demand.

The distinction matters. Fortinet’s business leans heavily on hardware firewalls, which face different spending cycles from cloud-native software. CrowdStrike’s cloud-native Falcon platform and its AI security products sit on the opposite side of the AI spending shift: as enterprises deploy AI agents, they need security for those agents. That’s a source of demand, not a budget threat.

The broader AI trade added pressure. The Democratic sweep in Tuesday’s midterms raised the prospect of AI regulation and a moratorium on data centers in Texas, which holds an estimated 27% of planned U.S. data-center capacity. AI-related stocks sold off overnight, with Nvidia down 2.38% and CoreWeave down 7.35% in early trading. Software names exposed to AI got caught in the rotation.

Regulation could actually help CrowdStrike. Tighter oversight of AI deployment would likely require companies to demonstrate control over their AI systems, which is exactly what the AI Kill Switch and Falcon Observe are built to provide. Compliance-driven security spending tends to be durable.

The polen investor letter offered context. The portfolio manager attributed recent turbulence in AI-related stocks to rate shifts and overcrowded sentiment, viewing the pullback as a necessary reset rather than a deterioration of fundamentals, and highlighted CrowdStrike as a positive contributor to performance.

For CRWD, the sector selloff creates a gap between price and fundamentals. The stock has fallen while the company announced record results, raised guidance twice and launched products aimed at a market it calls its largest opportunity. That gap is the setup for the forecast.

Valuation: 46x Sales, 193x Forward Earnings and 38x FY27 ARR

CrowdStrike’s valuation is the main bear argument. At $243.43 and a market value of $249.25 billion, the stock trades at 46.4 times trailing sales and 221 times normalized earnings. Against the fiscal 2027 consensus estimate of $1.26 per share, the forward multiple is 193 times earnings.

The ARR-based multiple is lower but still high. Against fiscal 2027 ending ARR guidance of $6.6 billion at the midpoint, CrowdStrike trades at 37.7 times ARR. Against fiscal 2027 revenue guidance of $6.0 billion, it trades at 41.5 times. Those are among the highest multiples in large-cap software.

The cash flow multiple is more reasonable. With a fiscal 2027 free cash flow margin of at least 30% on $6.0 billion in revenue, free cash flow should reach $1.8 billion or more. That puts CrowdStrike at roughly 138 times free cash flow, high but more defensible for a business growing net new ARR at 34% to 51%.

The premium reflects CrowdStrike’s position. It’s the largest pure-play cloud-native security platform, it holds a dominant share in endpoint protection, and its AI security launches put it at the center of the next wave of enterprise spending. Investors pay up for growth with high gross margins, recurring revenue and expanding cash flow.

The valuation leaves little room for error. At 193 times forward earnings, any slowdown in net new ARR growth would compress the multiple quickly. That’s why the December 1 report matters so much: the stock needs another beat-and-raise to justify its multiple.

Estimate revisions have softened slightly. The Zacks consensus estimate for the current fiscal year has declined 0.6% over the past month to $1.26, which contributed to a Zacks Rank of 4, or Sell. That rating reflects estimate momentum, not fundamentals, and a 0.6% revision is small.

The valuation framework for the forecast is straightforward. If CrowdStrike beats and raises on December 1, the multiple holds and the stock rerates toward its high. If it meets guidance without a raise, the multiple compresses and the stock tests the low $200s. The company’s nine-quarter beat streak and record pipeline tilt the odds toward the first scenario.

Analysts: Consensus Buy, $309.68 Average Target and a New Hold at $210

Wall Street remains firmly bullish. Of 51 brokerage firms covering CrowdStrike, the average brokerage recommendation is 1.65 on a scale of 1 to 5, between Strong Buy and Buy. A separate count of 47 analysts shows 45% rating the stock Strong Buy, 38% Buy, 15% Hold, 2% Sell and none Strong Sell. The consensus price target stands at $309.68, 27.2% above Wednesday’s $243.43.

Recent rating actions show a split on valuation. Jefferies maintained a Buy rating with a $240 target on November 3, just below the current price. Stifel maintained a Buy with a $240 target on October 20. Mizuho maintained its Buy rating and raised its target to $275 from $250 on October 22. Canaccord initiated coverage with a Hold rating and a $210 target on October 28, 13.7% below the current price.

The spread of targets shows the debate. Targets between $210 and $275 reflect analysts who see the stock as fairly valued after its run, while the $309.68 consensus reflects those who expect continued acceleration. Several targets set during October sit below the stock’s late-October trading levels, suggesting some analysts haven’t caught up to the AI security narrative.

Morningstar views the stock as fairly valued at $244.68, the Tuesday close.

The Fal.Con Europe announcements could prompt upgrades. Jim Cramer praised CrowdStrike’s AI Kill Switch on CNBC, and Kurtz appeared in multiple interviews on Tuesday. Analysts typically update models after major product events, and the combination of AI agent security launches, $495 million in acquisitions and a record third-quarter pipeline gives bulls new material ahead of earnings.

The Hold and Sell ratings concentrate on valuation. Canaccord’s $210 target and the Zacks Sell rating reflect concerns about the multiple and estimate momentum rather than doubts about the business.

For the forecast, the analyst consensus provides a ceiling target above $300 if the company delivers. The near-term target of $275 matches Mizuho’s price target, a level the stock traded through in October before the selloff.

The Competitive Field: Palo Alto, Zscaler, SentinelOne and Microsoft

CrowdStrike competes in a crowded market where AI security has become the new battleground. Palo Alto Networks, the largest cybersecurity company by revenue, has pushed its own platform consolidation strategy. Zscaler leads in cloud network security. SentinelOne competes directly in endpoint protection. Microsoft bundles Defender with its enterprise software, a persistent pricing threat.

AI agent security is still an open race. No vendor has established dominance in protecting AI agents, and CrowdStrike’s Fal.Con Europe announcements are an attempt to claim early leadership. The Fiddler and Dreadnode acquisitions add specialized capabilities that would take years to build internally, and the AI Kill Switch gives CrowdStrike a simple, marketable product story.

Partnerships with AI platforms matter. CrowdStrike’s integration with Anthropic’s Claude Cowork and AWS’s Bedrock AgentCore places Falcon Guardian directly inside the environments where enterprises build and deploy agents. Security that ships inside the AI platform has a distribution advantage over security bolted on afterward.

The European expansion adds reach. CrowdStrike recognized Santander, Maersk, Capgemini, Booking.com and Schwarz Digits with customer awards at Fal.Con Europe and hired a former SentinelOne, Rubrik and Palo Alto Networks executive to lead European channel growth. The partnership with Ignition Technology targets European small and mid-sized businesses. The Saudi sovereign cloud launch expands its Gulf presence.

The SIEM market is a second front. CrowdStrike’s next-generation SIEM business delivered record net new ARR in the second quarter, and the Dynatrace partnership targets legacy vendors such as Splunk, now part of Cisco. SIEM is a large, sticky market where cloud-native vendors have been gaining share.

Fortinet’s bookings miss highlights the divergence. Hardware-centric vendors face slower spending cycles while cloud-native platforms gain share. CrowdStrike’s 51% net new ARR growth compared with Fortinet’s disappointment shows that spending is shifting within cybersecurity, not shrinking.

The competitive risk is pricing. If Microsoft bundles AI agent security into its enterprise licenses, it could undercut standalone vendors. CrowdStrike’s response is the Flex model, which lets customers add modules without new procurement, reducing the appeal of bundled alternatives.

The Technical Map: $237.21 Floor, $252.85 Ceiling, $275 Target

CrowdStrike’s chart shows a stock pulling back from a peak into a support zone. The stock reached its 52-week high of $286.99 in October, then fell 15.2% to Wednesday’s $243.43. The 7.82% decline over the past month puts the stock in the middle of a correction rather than a breakdown.

Wednesday’s session defined the near-term range. The intraday low of $237.21 is the first support, a level buyers defended before pushing the stock back above $243. The intraday high of $252.85 is the first resistance. A close above $252.85 would reclaim Wednesday’s premarket enthusiasm and signal that the software selloff is losing its grip.

The support stack below runs from $240, where Jefferies and Stifel set their targets, to $237.21, Wednesday’s low. Below that, Canaccord’s $210 target marks a deeper support zone where valuation-focused buyers would likely step in. A break below $237.21 on a closing basis would open a move toward the $220 to $210 range.

The resistance stack above runs from $244.68, Tuesday’s close, to $249.98, Wednesday’s premarket high, then $252.85, Wednesday’s intraday high. Above that, $265 marks the level from a month ago, and $275 matches Mizuho’s price target. The $286.99 52-week high is the major ceiling.

The risk-reward favors the upside into earnings. From $243.43, the distance to $275 is $31.57, a 13.0% gain. The distance to $237.21 is $6.22, a 2.6% decline, and to $210 is $33.43, a 13.7% decline. With a tight stop below $237.21, the setup offers roughly a five-to-one reward-to-risk ratio toward $275.

Volatility requires wide stops for anyone trading through earnings. With 30 moves greater than 5% over the past year and an intraday range of 6.6% on Wednesday, CRWD regularly moves $12 to $15 in a session. Stops inside $5 of the current price will get hit on noise.

The level that matters most is $237.21 on a closing basis. Above it, the bullish setup holds. Below it, the software selloff likely extends toward $210 before the December 1 report.

The Catalyst Calendar: Jobs Friday, CPI, Peer Earnings and December 1

CrowdStrike faces a run of catalysts over the next four weeks. Friday’s U.S. October jobs report sets the macro tone. A strong report would lift Treasury yields from 4.92% and raise the Fed’s December hike odds above 78%, pressuring high-multiple software stocks. A weak report would lower yields and support growth stocks.

U.S. October CPI lands November 10. High-multiple stocks like CRWD are sensitive to rate expectations, and a hot inflation print would extend the software selloff. A soft print would support a rebound.

Peer earnings will shape sentiment. Palo Alto Networks and Zscaler report in the coming weeks, and their results on net new business will show whether Fortinet’s bookings miss was company-specific or a sector trend. Strong peer results would confirm that cloud-native security spending is accelerating and lift CRWD ahead of its own report.

Fal.Con Europe follow-through matters. Analyst notes and model updates in the days after the conference could include upgrades or target raises based on the AI security launches. The closings of the Fiddler and Dreadnode acquisitions will be watched for integration timelines.

AI regulation headlines from the new Democratic Congress could cut both ways. Hearings on AI safety and data centers could weigh on AI-exposed stocks broadly, but rules requiring companies to control their AI agents would directly benefit CrowdStrike’s new products.

The December 1 earnings report is the main event. The company guided to roughly $345 million in net new ARR for the third quarter, revenue of $1.52 billion to $1.53 billion and a free cash flow margin of 27.5%. A beat on net new ARR above $380 million and a full-year guidance raise would likely trigger a double-digit move higher.

The Fed’s December 8 to 9 meeting caps the period, one week after earnings. A hike with hawkish guidance would pressure growth stocks; a pause would support them.

CrowdStrike Stock Price Forecast: Bullish Above $237, $275 Target Into December 1 Earnings

CrowdStrike traded at $243.43 on Wednesday, down 0.51%, after swinging from a high of $252.85 to a low of $237.21 as the software selloff overwhelmed gains from its Fal.Con Europe announcements. The stock sits 15.2% below its 52-week high of $286.99 and has fallen 7.82% over the past month.

The fundamental case is strong. CrowdStrike delivered record net new ARR of $332.8 million in the second quarter, up 51%, beating the high end of its guidance by more than $45 million. It raised fiscal 2027 net new ARR growth guidance by 630 basis points to 34%. Falcon Flex ARR doubled to $2.29 billion. The company generated record free cash flow of $377 million and has beaten Wall Street’s earnings estimates for nine straight quarters. At Fal.Con Europe, it launched an AI Kill Switch, agreed to buy Fiddler AI and Dreadnode for $495 million, and extended protection to Anthropic’s Claude Cowork and AWS Bedrock AgentCore.

The risks are valuation and sector sentiment. The stock trades at 193 times forward earnings and 38 times fiscal 2027 ARR. Software stocks are selling off on AI spending concerns, and Fortinet’s bookings miss has weighed on cybersecurity names. Canaccord initiated coverage at Hold with a $210 target.

The forecast sets clear levels. The near-term bias is bullish above $237.21 on a closing basis. The first resistance is $252.85, followed by the target of $275, a 13.0% gain from $243.43. A beat-and-raise on December 1 opens a path to the $286.99 high and the $309.68 consensus target. Support sits at $240 and $237.21. A close below $237.21 would extend the selloff toward $210.

The verdict: bullish with a $275 target. CrowdStrike is executing on the largest product opportunity in its history, guided to another record quarter and has beaten estimates for nine straight quarters, while the sector selloff has pulled the stock 15% off its high four weeks before earnings. Hold $237 through Friday’s payrolls and next week’s CPI, and the path to $275 opens into the December 1 report, with a third straight net new ARR guidance raise the trigger that could carry CRWD back to its $286.99 high.

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