Why CrowdStrike Stock Rallied on Tuesday
Shares of CrowdStrike (NASDAQ: CRWD) were trading higher on Monday, jumping as much as 5% in early trading. As of 1:37 p.m. ET, the shares were still up 4%.
While the broader market move provided some momentum, the cloud-based cybersecurity specialist was on the receiving end of an analyst upgrade, helping fuel the stock's advance.
Morgan Stanley (NYSE: MS) analyst Hamza Fodderwala raised his price target on CrowdStrike stock to $163, up from $150, while simultaneously maintaining an overweight (buy) rating on the shares. The new price target represents potential gains for investors of 34% compared to Monday's close.
Source Fool.com
