Berenberg Starts CrowdStrike Holdings (CRWD) at Buy
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Berenberg analyst Joshua Tilton initiates coverage on CrowdStrike Holdings (NASDAQ: CRWD) with a Buy rating and a price target of $260.00.
The analyst comments "CrowdStrike is a security software vendor specialising in the prevention and detection of malware on desktops, laptops, and servers. CrowdStrike has pioneered the “as-a-service” cloud end-point security market, a competitive differentiator as customers can outsource a security outcome to CrowdStrike versus managing a solution themselves. The accelerating shift to Zero Trust architecture from perimeter-based defence strategies will enable CrowdStrike to continue to take share in the end-point market. Our primary research indicates that the company’s technology is superior to that of its peers. CrowdStrike’s market share increased from 1% in 2016 to 6% in 2019. With 69% of the market in 2019 still controlled by legacy vendors and Microsoft, we believe a meaningful opportunity remains."
Shares of CrowdStrike Holdings closed at $213.37 yesterday.
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