CrowdStrike (CRWD) reinforced its goal to lead AI-era cybersecurity and raised its long-term growth targets during its Fal.Con conference, RBC Capital Markets said in a note Thursday.

The company now expects to reach $10 billion in annual recurring revenue by fiscal 2030 and $20 billion by fiscal 2035, both one year earlier than previously expected, the analysts said. From here, reaching $20 billion would require only a 15% compound annual growth rate, the analysts said.

Management also noted that reaching $20 billion would require capturing just about 3.5% of the $565 billion total addressable market by calendar year 2034, the analysts added.

CrowdStrike has raised its net new annual recurring revenue, or NNARR, guidance for fiscal 2027 five times, from $1.135 billion at Fal.Con 2025 to $1.355 billion during its Q2 2027 earnings, the analysts said. For fiscal 2028, the company expects NNARR of at least $1.626 billion, implying 20% plus growth, well above consensus of $1.502 billion and 11% growth, the analysts said.

"Overall, we thought the event made a compelling case for the company's positioning to secure the AI era as we think the market opportunity and growth potential remains significant," the analysts added.

RBC maintained its outperform rating and $260 price target on CrowdStrike.

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