Why Did CrowdStrike Shares Rise 14% in February?
Shares of CrowdStrike (NASDAQ: CRWD) climbed 14% in February, according to data provided by S&P Global Market Intelligence, thanks to momentum in the cybersecurity industry and positive coverage from analysts. Investors focused on evidence of strong demand for CrowdStrike's products, anticipating the strong results that the company would publish in its quarterly earnings report.
February was a quiet month for CrowdStrike headlines. The company announced it had received top ratings from Gartner and IDC for its endpoint security products. These are important honors, but CrowdStrike was already considered a leader by industry publications. The stock also benefited from a bullish analyst report from a high-profile investment bank that increased its price target. These factors both contributed to investor optimism, but they're not enough to explain the 14% jump.
Most of CrowdStrike's performance can be attributed to cybersecurity industry momentum ahead of its March 7 quarterly earnings report. CloudFlare and Palo Alto Networks both popped when they published positive financial reports. In both cases, CrowdStrike's shares were also pulled upward.
Source Fool.com
