CrowdStrike Stock Gets a Downgrade Ahead of Earnings

CrowdStrike Holdings stock was falling Monday after an analyst at Morgan Stanley downgraded the cybersecurity stock ahead of earnings.

Fodderwala is concerned that there will be further slowdown in spending from large customers. “We estimate these verticals combined represent more than 20% of total company ARR [annual recurring revenue] and continue to spend more cautiously, likely resulting in more phased deployments and smaller deal sizes.”

CrowdStrike didn’t immediately provide a comment on Monday. On the company’s most recent earnings call in May, Chief Executive George Kurtz said “our continued execution despite a challenging macro environment translated to strong growth and exceptional margins.”Piper Sandler analyst Rob Owens is more optimistic going into earnings, and rates the stock as Overweight with a $180 price target.

RBC Capital Markets analyst Matthew Hedberg rates the stock as Outperform with a $182 price target, and has a bullish view heading into earnings.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Morgan Stanley downgrades CrowdStrike ahead of earningsThe analyst lowered his price target to $167 from $178, which suggests the stock could still climb more than 11%.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Stocks making the biggest moves premarket: 3M, CrowdStrike, Xpeng and moreThese are the stocks posting the largest moves in premarket trading.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.Buybacks can often be a key ingredient to stock market returns for investors.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »