Why CrowdStrike Is Poised to Rise
IPO darling CrowdStrike Holdings (NASDAQ: CRWD) has enjoyed a rising stock price, recently reaching an intraday high of $101.88, up 60% from its market debut at $63.50 in June. Investors have been attracted to CrowdStrike for its software-as-a-service (SaaS) cybersecurity capabilities, which were built from the ground up to support cloud computing environments.
The stock as of this writing trades around $83, having lost ground as competitors such as VMware make moves threatening the company's position. VMware recently acquired Carbon Black, which, like CrowdStrike, focuses specifically on endpoint security. (More on that in a moment.)
But at more than 30% above its opening price, does the stock have room to rise?
Source Fool.com
