(NASDAQ: CRWD) stock climbed again in Friday's trading. The cybersecurity company's share price closed out the daily session up 2.1%, according to data from S&P Global Market Intelligence.

CrowdStrike published its second-quarter results after the market closed on Wednesday; it delivered better-than-expected performance in the period and guidance that wasn't as bad as some investors had feared. Following the report, CrowdStrike is seeing some bullish coverage from analysts today -- and its stock moved upward in response.

In a note published this morning, HSBC upgraded its rating on CrowdStrike stock from hold to buy. The company also increased its one-year price target on the stock from $302 per share to $339 per share. The firm noted that there's still some uncertainty about what the fallout will be from the massive global computer system shutdown triggered by a software update rolled out on July 19, but its analysts think that CrowdStrike is now moving past the bad news. HSBC's analysts also said that the business is well positioned to capitalize on top cybersecurity trends and that the company's foundations using artificial intelligence give it competitive advantages.

Continue reading

Source Fool.com