CrowdStrike shares rise on Goldman Sachs upgrade
Cybersecurity firm shares CrowdStrike rose 5% Tuesday morning after Goldman Sachs upgraded the stock to buyIncreased its share price target from $241 to $285,
Stock, down 26%The stock has fallen from its November 52-week high and is now rated less than it was seven months ago. Goldman analysts believe it is a good buy, given the greater demand worldwide for cybersecurity services. Companies recognize that there are “possibilities of exposure to threats due to attacks.” Russia’s war with Ukraine.
Governments have been concerned about cybersecurity throughout the conflict. warning companiesBe alert for possible attack. Russian military hackers tried to attack Ukraine’s infrastructure but were unsuccessful energy infrastructureLast week was an example.
Other cybersecurity companies also have shares risen among increased demandTheir services. Palo Alto Networks’ year-to-date growth is about 12%, and Mandiant’s, by comparison, is about 27%.
Analysts stated that CRWD is still considered to be well positioned for demand, ahead of accelerating deterioration in the threat environment.
Analysts said that spending on CrowdStrike’s cybersecurity software Endpoint or XDR, which is produced by CrowdStrike will continue to be a top priority in the security sector.
Analysts stated that Goldman Sach continues to cover the company as one of its fastest-growing. They also expect it to continue operating above their expectations.
Analysts said that CRWD “is one of our best-positioned vendors to profit from the demand ahead.”