This Hot Cybersecurity Stock Has 25% Upside, According to 1 Wall Street Analyst
Shares of (NASDAQ: CRWD) have surged to new highs this year, but analysts at HSBC think the cybersecurity specialist has more in the tank. The bank's financial services firm recently adjusted its price target to $411, representing an upside of 25% from the current share price of $329.
The firm initially rated the stock a buy in September when the shares traded around $165. Since then, CrowdStrike has reported solid growth as companies continue to view cybersecurity as a must-have in today's environment.
It's unclear exactly what prompted the price target raise, but Wall Street analysts are constantly adjusting price targets to reflect a stock's recent performance, and that's probably all that was going on in this case. Still, CrowdStrike has achieved strong, profitable growth that is deserving of a rising stock price.
Source Fool.com