[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Wall St Engine [@wallstengine](/creator/twitter/wallstengine) on x 74K followers Created: 2025-07-14 07:55:09 UTC Morgan Stanley Downgrades $CRWD to Equalweight from Overweight, Raises PT to $XXX from $XXX Analyst comments: "We move CrowdStrike to Equal-weight. Three key factors balance the risk/reward in the near-term: 1) Valuation: While confident in CrowdStrike's long-term growth story, even with an imbedded 2H re-acceleration and 'normalizing' trends next year, the current 21x EV/2026E Sales multiple presents a sizable premium to the large cap software peer average at 12x, a premium that persists even when adjusted for growth rates (1.0x EV/S/G vs. 0.8x); 2) High Investor Expectations: CrowdStrike put up impressive Q1 results, beating consensus net new ARR (NNARR) expectations by XX% (vs average ~8% in prior four quarters), yet the stock was down after-hours. After a ~50% run in the shares in the past X months, a similar situation may unfold during the Q2 print in late August. Understandably, the stock has outperformed since Q1 earnings as investors continue to underwrite a 2H ramp as CrowdStrike laps last year's post-outage impacts, yet this begs the question of what magnitude of beats would be required to satiate investor appetites over the next twelve months. 3) Lack of Near-Term Catalysts: The Q2 print is unlikely to be a thesis-changing event given clear investor focus on 2H, and we continue to have limited visibility into Customer Commitment Package (CCP) renewals and Falcon Flex contract impacts on revenue recognition and margins. Though these Flex contracts have seen strong momentum (>$3.2B in TCV as of F1Q26), they could also introduce some risk into the business model longer-term should customers not renew all of their credits." Analyst: Keith Weiss XXXXX engagements  **Related Topics** [longterm](/topic/longterm) [$crwd](/topic/$crwd) [morgan stanley](/topic/morgan-stanley) [stocks financial services](/topic/stocks-financial-services) [crowdstrike](/topic/crowdstrike) [stocks technology](/topic/stocks-technology) [Post Link](https://x.com/wallstengine/status/1944666966243107139)
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Wall St Engine @wallstengine on x 74K followers
Created: 2025-07-14 07:55:09 UTC
Morgan Stanley Downgrades $CRWD to Equalweight from Overweight, Raises PT to $XXX from $XXX
Analyst comments: "We move CrowdStrike to Equal-weight. Three key factors balance the risk/reward in the near-term:
Valuation: While confident in CrowdStrike's long-term growth story, even with an imbedded 2H re-acceleration and 'normalizing' trends next year, the current 21x EV/2026E Sales multiple presents a sizable premium to the large cap software peer average at 12x, a premium that persists even when adjusted for growth rates (1.0x EV/S/G vs. 0.8x);
High Investor Expectations: CrowdStrike put up impressive Q1 results, beating consensus net new ARR (NNARR) expectations by XX% (vs average ~8% in prior four quarters), yet the stock was down after-hours.
After a ~50% run in the shares in the past X months, a similar situation may unfold during the Q2 print in late August. Understandably, the stock has outperformed since Q1 earnings as investors continue to underwrite a 2H ramp as CrowdStrike laps last year's post-outage impacts, yet this begs the question of what magnitude of beats would be required to satiate investor appetites over the next twelve months.
- Lack of Near-Term Catalysts: The Q2 print is unlikely to be a thesis-changing event given clear investor focus on 2H, and we continue to have limited visibility into Customer Commitment Package (CCP) renewals and Falcon Flex contract impacts on revenue recognition and margins. Though these Flex contracts have seen strong momentum (>$3.2B in TCV as of F1Q26), they could also introduce some risk into the business model longer-term should customers not renew all of their credits."
Analyst: Keith Weiss
XXXXX engagements
Related Topics longterm $crwd morgan stanley stocks financial services crowdstrike stocks technology