CrowdStrike's Potential Revenue Shortfall Won't Deter Growth, Analyst Says
Portfolio Pulse from Anusuya Lahiri
Piper Sandler analyst maintains an Overweight rating on CrowdStrike despite potential revenue shortfall. Delta Air Lines plans to sue CrowdStrike over an outage costing $350M-$500M. CrowdStrike and Microsoft to host a security summit. CRWD stock slightly down.
August 26, 2024 | 4:04 pm
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NEGATIVE IMPACT
Delta Air Lines plans to sue CrowdStrike over an outage that cost the airline $350M-$500M, affecting 60% of its critical applications.
The lawsuit and significant financial impact from the outage could negatively affect Delta's stock in the short term as investors assess the potential legal and operational repercussions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Piper Sandler analyst maintains an Overweight rating on CrowdStrike with a $290 price target despite potential revenue shortfall. Delta Air Lines plans to sue CrowdStrike over an outage costing $350M-$500M. CRWD stock slightly down.
The analyst's maintained rating and price target suggest confidence in CrowdStrike's long-term growth, but the lawsuit and outage costs could weigh on short-term sentiment. The stock's slight decline reflects mixed investor reactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft and CrowdStrike to host a Windows Endpoint Security Ecosystem Summit to improve security and resiliency for joint customers.
The collaboration with CrowdStrike on a security summit could enhance Microsoft's reputation in cybersecurity, potentially benefiting its stock positively in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60