CrowdStrike's Resilience And Cyber Defense Capabilities Seen as Long-Term Growth Catalysts: Analyst
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst Rob D. Owens upgraded CrowdStrike Holdings, Inc (NASDAQ:CRWD) to Overweight from Neutral with a price target of $290, down from $310. Despite a recent outage, Owens believes CrowdStrike's resilience and cyber defense capabilities will drive long-term growth. The analyst expects short-term impacts from litigation and congressional testimony but sees these as negligible in cost. Owens forecasts moderated revenue and EPS for the next few fiscal years but suggests investors build positions at current levels.
August 06, 2024 | 6:16 pm
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Piper Sandler upgraded CrowdStrike to Overweight with a price target of $290. Despite a recent outage, the analyst sees long-term growth due to strong cyber defense capabilities. Short-term impacts from litigation and congressional testimony are expected but seen as negligible.
The upgrade to Overweight and the high price target indicate strong confidence in CrowdStrike's long-term growth potential. The short-term impacts from the outage are expected to be negligible, making this a positive signal for investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100