Here's Why CrowdStrike Stock Gained 40% in the First Half
CrowdStrike (NASDAQ: CRWD) rose 39.5% over the first six months of 2023, according to S&P Global Market Intelligence. This far outpaced the S 500 as well as popular cybersecurity ETFs, and it slightly edged the Nasdaq Composite over that period. The company capitalized on stronger-than-expected quarterly earnings reports. The stock also benefited from improving market conditions for growth stocks and the cybersecurity sector, which helped CrowdStrike and some of its peers recover from a rough 2022.
It's important to understand the context for CrowdStrike and its peers entering this year. The stock dropped more than 50% in 2022 thanks to high interest rates and slowing growth. Many high-growth stocks had charged to unsustainably high valuations during the pandemic, and they crashed back to earth as conditions reversed.
Source Fool.com
CrowdStrike Holdings Inc Stock
The stock is an absolute favorite of our community with 106 Buy predictions and no Sell predictions.
As a result the target price of 348 € shows a slightly positive potential of 7.56% compared to the current price of 323.55 € for CrowdStrike Holdings Inc.