Guggenheim Downgrades CrowdStrike Holdings (CRWD) to Neutral

Oppenheimer Reiterates Outperform Rating on CrowdStrike Holdings (CRWD), 'Removing from Top Picks'

Oppenheimer analyst Ittai Kidron reiterated an Outperform rating and $450.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).

The analyst ocmments "We are removing CrowdStrike from our 2024 Top Picks. While we remain positive on the long-term opportunity, we expect shares to face continued pressure near-term as the company deals with the fallout of its defective software update and... More

CrowdStrike Holdings (CRWD) PT Lowered to $380 at RBC Capital

RBC Capital analyst Matthew Hedberg lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $380.00 (from $420.00) while maintaining a Outperform rating.

The analyst comments "While the outage could remain a near-term overhang, we believe CrowdStrike will emerge as a... More

BTIG Downgrades CrowdStrike Holdings (CRWD) to Neutral

BTIG analyst Gray Powell downgraded CrowdStrike Holdings (NASDAQ: CRWD) from Buy to Neutral.

The analyst comments "On Friday 7/19, a CRWD software update caused a major global outage impacting businesses worldwide. After speaking with five senior security executives about the incident, we are downgrading CRWD shares to Neutral. In short, the feedback from our discussions was more... More

CrowdStrike shares extend declines amid analyst downgrades and estimate cuts

Guggenheim analysts have downgraded CrowdStrike (NASDAQ CRWD) to Neutral from Buy, citing anticipated resistance to new deals in the near term due to the fallout from a recent quality assurance issue that disrupted IT systems globally.

The investment firm also noted existing risks in fourth-quarter consensus estimates, particularly in annual recurring revenue (ARR).

"With the stock still trading at the highest multiple of recurring revenue across our entire Software coverage, we are stepping away for the time being, Guggenheim analysts said in a note.

They explained that CrowdStrike has significantly expanded its technology offerings, now boasting 28 modules,... More