84 among the more than 8,300 analysts tracked by TipRanks. With COST's forward valuation slightly below its five-year average, he prefers to "opportunistically accumulate shares on pullbacks."īenedict reiterated a buy rating on Costco with a price target of $535, as he thinks that the company is well-positioned to handle uneven consumer spending.īenedict is ranked No. The analyst said that downward revisions to fiscal third-quarter estimates appear likely following the March sales update. Additionally, weakness in e-commerce persisted.īenedict acknowledged that Costco is "clearly not immune" to a slowdown in general merchandise sales.
(See Costco Insider Trading Activity on TipRanks)īaird analyst Peter Benedict noted that core comparable sales (which exclude the impact of changes in gasoline prices and foreign exchange) growth slowed to 2.6% in March from 5% in February due to weaker performance in the U.S. Membership-only warehouse chain Costco ( COST) is known to be one of the most consistent players in the retail space, thanks to its resilient business model and impressive membership renewal rates that are generally above 90%.Ĭostco recently reported 0.5% growth in its March sales to $21.71 billion, with its comparable sales declining 1.1% year-over-year. is demonstrating clear success extending beyond traditional endpoint security markets, and FCF margins remain ~30%," said Moskowitz. "Despite a more challenging macro backdrop, we continue to believe CRWD's cloud platform remains highly differentiated, its GTM is unrivaled, the co. The analyst highlighted management's claim that enterprise customers choose CrowdStrike over Microsoft 80% of the time for several reasons, including its next-generation platform that leverages artificial intelligence compared with the rival's signature-based approach. The analyst noted that management expects solid growth opportunities for endpoint security and emerging use cases, fueled by Falcon, CrowdStrike's "truly extensible cloud platform." The company continues to see a potential total addressable market of $158 billion by 2026, a huge increase compared to $25 billion at the time of its initial public offering in 2019. This scenario is driving more demand for cybersecurity companies, including CrowdStrike ( CRWD).įollowing a recent virtual investor briefing with CrowdStrike's management, Mizuho analyst Gregg Moskowitz reaffirmed a buy rating on the stock with a price target of $175 and said that CRWD remains a top pick. However, it has also made them more vulnerable to cyberattacks.
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