Thursday, December 3, 2020

CrowdStrike (CRWD) Stock Gained 163% This Year, Analysts Raised Recommendation

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Cybersecurity specialist CrowdStrike Holdings Inc. (CRWD) has risen more than 163 percent, to $131.58 in trade on November 16, since beginning of the year. The business is the recipient of a high demand for data protection solutions, especially in the context of global digital transformation. The mass transition to remote work, which increased the requirements for cloud data protection, gave an additional drive to growth.

Robert W. Baird analysts strengthened their recommendation on November 11 for CrowdStrike shares from neutral to ‘above market’ and increased their target price to $155 from $150. CrowdStrike has a “favourable strategic positioning” is the main idea of analysts. This helps the organization to sustain high growth rates as CrowdStrike’s revenue grew by 84 percent year-on-year in the past quarter. At the same time, year-on-year recurring subscription sales rose by 89 percent. This is a significant measure that means that for many consecutive quarters the business will generate stable revenues.


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CrowdStrike extended its service portfolio during previous quarters. The company of endpoint defense tool provider Preempt Security was recently acquired by CrowdStrike. This is a promising path that could improve the CRWD’s target market. Therefore, CrowdStrike also provides services for security of corporate endpoints, security threat identification, data protection and vulnerability management, and applications for IT service management. CrowdStrike has better opportunities ahead as the market in which it performs has a potential to grow to $30 billion.

Growth is expected to slow as CrowdStrike becomes a more established business. For a long time to come, though, it is expected to be above 50 percent. The outlook for the following years, expects year-on-year revenue growth of 70%.

CrowdStrike Holdings Inc. (CRWD) is up 3.97 percent over the week, but is down -9.47 percent over the month. With stock’s half-yearly growth of 67.51 percent, the company has a market capitalization of about $30 billion.

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