CrowdStrike's (CRWD) cyber-AI strategy continues to play out, with expansive pipeline for its cyber-AI product portfolio driving bookings pipeline, Wedbush Securities said in a Thursday note.

The company reported Q1 results featuring slight beats across the board while slightly raising its FY27 guidance, the note said.

CrowdStrike was the only company to secure both Anthropic's and OpenAI's cyber defense projects, pointing to the rising need for cybersecurity ecosystems for AI deployments, it said.

"We continue to believe that CRWD's position as the gold standard of cybersecurity remains firmly unchanged," the report said, pointing to its Falcon platform.

Wedbush kept its outperform rating while raising its price target to $720 from $700 to reflect significant momentum for its

platform approach.

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