What happened
Shares of CrowdStrike (CRWD 4.06%) have dipped today, down by 6% as of 12:15 p.m. EDT, despite the fact that a Wall Street analyst boosted his price target on the stock. BofA Securities analyst Tal Liani reiterated a buy rating on CrowdStrike while modestly raising his valuation estimate from $245 to $250. The analyst tweak comes as tech stocks are lagging the broader market due to ongoing concerns about rising yields.
So what
Additional details around the research note were not immediately available. The news comes after the cybersecurity specialist reported fourth-quarter earnings earlier this week. The results mostly pleased investors, sending shares higher by 6% yesterday.
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Now what
Other analysts were also impressed by the release. Here's an overview of other analyst activity following the report:
- RBC: Reiterates outperform rating, increases price target from $220 to $250.
- UBS: Maintains buy rating, reduces price target from $275 to $260.
- Goldman Sachs: Keeps buy rating, adjusts price target from $240 to $246.
- Barclays: Reiterates overweight rating, boosts price target from $221 to $240.
- JPMorgan: Keeps neutral rating, raises price target from $175 to $205.
- Needham: Reiterates buy rating, increases price target from $200 to $275.
- DA Davidson: Maintains buy rating, boosts price target from $185 to $250.
- Baird: Keeps outperform rating, raises price target from $185 to $235.
- Oppenheimer: Reiterates outperform rating, increases price target from $190 to $225.
CrowdStrike's guidance for the current fiscal year calls for revenue in the range of $1.31 billion to $1.32 billion.
