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Why CrowdStrike Stock Soared Today

·2 min read
Why CrowdStrike Stock Soared Today
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Tic-tac-toe, three positive news items in a row helped to drive shares of cybersecurity expert CrowdStrike (NASDAQ: CRWD) stock up 7.6% through 1:45 p.m. ET Thursday. Right after markets closed for trading yesterday, Stephens upgraded CrowdStrike stock to "overweight" (a "buy" recommendation) with a $232 price target, citing the company's "strong and widening tech moat," "comprehensive" product offerings, and "ample runway" for growth as primary reasons for liking CrowdStrike. The investment bank predicted CrowdStrike can predictably grow sales at 30% annually for the foreseeable future.