CrowdStrike Stock: Headed to $200?
In a gutsy move, a Wells Fargo analyst increased his price target for cybersecurity specialist (NASDAQ: CRWD) days before the company's fiscal second-quarter earnings release. Ahead of the report, which is scheduled for Wednesday, Wells Fargo's Andrew Nowinski is boosting his 12-month target for the tech stock by about 14%. Additionally, the analyst reiterated an overweight rating (similar to a "buy" rating) on the stock.
Is Nowinski on to something? Or is it wiser for investors to wait for more information, available when the earnings report is released, before deciding whether or not they think the stock is a buy?
On Monday, Nowinski said he believes the risk-reward setup headed into the report is attractive. In other words, the analyst is likely betting that CrowdStrike reports better-than-anticipated fiscal Q2 financial results. More specifically, Nowinski said he expects the company to report net new annual recurring revenue (ARR) of $200 million.
Source Fool.com
CrowdStrike Holdings Inc Aktie
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