Goldman Sachs Just Upgraded This Cybersecurity Leader
As sell-offs in technology and growth stocks continue, investors may be disoriented or feel unenthusiastic about deploying capital to buy dips that just seem to keep dipping. One industry that may be a solid investment choice both in the intermediate and long-term is cybersecurity. In 2022 alone, the cybersecurity market has already witnessed two large acquisitions by Alphabet. Even more recently, private equity giant Thoma Bravo sold network security provider Barracuda Networks to KKR.
CrowdStrike (NASDAQ: CRWD), the cloud-native cybersecurity company, was a prominent pandemic darling: its stock rocketed 258% between January 2020 and December 2021. But since hitting an all-time high in November, the stock has since cratered more than 30%.
Despite the precipitous sell-off, CrowdStrike has benefitted from a number of Wall Street analyst upgrades. Let's take a look at where Wall Street's predictions are coming from and what they might mean for this stock.
Source Fool.com
