Why CrowdStrike Stock Popped on Tuesday
Wall Street sure is rocking the boat on cybersecurity operator (NASDAQ: CRWD) this week! With earnings in the offing, analysts at Morgan Stanley decided to cut their price target on CrowdStrike yesterday, costing CrowdStrike about 3.7% of its market capitalization as investors got spooked. Today, CrowdStrike's moving the other way, as a bullish note from Needham sends the stock back up about 2% through 1 p.m. ET.
So which way is it? Is CrowdStrike going up or down?
In yesterday's note, covered by Street Insider, Morgan Stanley took CrowdStrike to task for cutting its forecast last quarter, and warned that another cut could come when CrowdStrike reports earnings tomorrow. "Consensus estimates for 2H/CY24 rebound appear high in light of a more difficult demand environment," said Morgan Stanley analyst Hamza Fodderwala, citing an industry slowdown and weak free cash flow. The analyst then cut the stock's price target to $167 (which is still more than what CrowdStrike costs today).
Source Fool.com
CrowdStrike Holdings Inc Aktie
Starkes Kaufinteresse bei CrowdStrike Holdings Inc, mit einer großen Anzahl an Buy- und wenigen Sell-Einschätzungen.
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