Why CrowdStrike Stock Was Rising Today
Shares of CrowdStrike Holdings (NASDAQ: CRWD) were up 2.5% as of 12:29 p.m. ET on Tuesday after favorable comments from one Wall Street analyst.
Following more robust growth through the first three quarters of 2022, the stock has fallen 36%, but Goldman Sachs believes the stock offers an attractive risk-to-reward trade-off at current share price levels.
Goldman Sachs analyst Gabriela Borges initiated coverage of the cybersecurity provider with a buy rating and a near-term price target of $141. Borges believes the company's decelerating top-line growth is already priced into the stock. On that note, Borges believes CrowdStrike's position in cloud-based endpoint security and improving free cash flow should lead the stock higher.
Source Fool.com
