UPDATE: Goldman Sachs Upgrades CrowdStrike Holdings (CRWD) to Buy
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Goldman Sachs analyst Brian Essex upgraded CrowdStrike Holdings (NASDAQ: CRWD) from Neutral to Buy with a price target of $285.00 (from $241.00).
The analyst comments "Strong execution as war stokes an already elevated demand environment. CRWD stock rerated lower over the past seven months, along with the rest of the high-growth software universe, but fundamentals have continued to improve with strong execution against a backdrop of unprecedented demand. Additionally, the global threat environment remains elevated and initial channel conversations indicate that the Russia/Ukraine war is driving even greater levels of demand. We continue to view CRWD as well positioned in the sweet spot of demand ahead of accelerating deterioration of the threat environment with Endpoint expected to remain a top CIO priority within Security. Considering valuation at more compelling levels, strengthening secular demand trends, and an outlook that continues to improve on the back of beat and raise results, we are upgrading CRWD to Buy and raising our price target to $285."
Shares of CrowdStrike Holdings closed at $216.60 yesterday.
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