CrowdStrike (CRWD) heads into its Fal.Con event following a record quarter and an increase to fiscal 2027 expectations, with Truist looking for evidence that the recent demand acceleration can support a higher long-term growth outlook.

The investment firm said in a Tuesdasy note that it will focus on AI detection and response monetization, future net new annual recurring revenue potential, product-level growth drivers and Falcon Flex expansion.

"We expect to come away constructive if management can demonstrate that AI is expanding both the size and duration of the growth opportunity," according to the note.

The note also highlights Agentic Security and Falcon as the Control Plane, with Truist looking for developments around agent discovery, runtime enforcement, model governance and third-party AI ecosystems.

Truist reiterated its buy rating and raised its price target to $300 from $245.

Shares of CrowdStrike were down 7.7% in Tuesday trading.

Price: 213.26, Change: -17.74, Percent Change: -7.68