CrowdStrike Stock Falls on 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.”

A spokesperson from CrowdStrike told Barron’s the company was “in our quiet period, and unfortunately, we cannot comment on this specific report until we release our earnings on Wednesday.” “While the setup from here likely leaves less upside than seen historically, we continue to have confidence in the underlying fundamentals. We are expecting an inline to modest beat on the quarter and inline to modestly raised guidance,” Owens said in a research note on Sunday.

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.

CrowdStrike Stock Gets a Downgrade Ahead of EarningsMorgan Stanley analyst Hamza Fodderwala downgraded the shares to Equal-Weight from Overweight, citing a difficult demand environment.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

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 »