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.
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