Why Analysts Are Still Bullish on CrowdStrike’s Stock Despite Post-Earnings Slump | Global News Avenue

mass strike (Add, delete, modify and check) On Wednesday, the cybersecurity company reported that its shares fell Unexpected loss in third quarter as it grapples with a massive power outage July, but analysts remain bullish on the stock.

“Despite increased near-term uncertainty, we remain firmly convinced that CRWD’s cloud security platform is highly differentiated,” Mizuho analysts wrote on Wednesday. The company maintained an “outperform” rating and a price target of $375, which represents a nearly 10% premium to Wednesday’s intraday price of $342.18.

Wedbush analysts raised their price target to $390 from $330, noting CrowdStrike’s third-quarter revenue beat expectations and raising full-year guidance. They added that following the outage, “the lost business appears to remain much more limited than initially anticipated.”

Citi analysts grew more bullish on the stock, raising their price target on the stock to $400 from $300, citing “impressive” revenue of more than $1 billion in the quarter and “more confidence in full-year forecasts.” .

CrowdStrike shares fell 6% in afternoon trading Wednesday. Despite Wednesday’s losses, their value has risen by more than a third since the start of the year.