Why CrowdStrike, Cloudflare, and MongoDB Rallied Wednesday Morning
The state of the overall economy has clearly been the primary driver of the stock market over the past year or so, as high inflation and the Federal Reserve Bank's campaign of interest rate hikes have taken center stage. Investors are still holding out hope for a so-called "soft landing," with the economy avoiding a recession. The latest read on inflation helped fuel those hopes, sparking a broad market rally.
With that as a backdrop, (NASDAQ: CRWD) climbed 2.3%, Cloudflare (NYSE: NET) rose 3.1%, and MongoDB (NASDAQ: MDB) jumped 5.2%, as of 1:42 p.m. ET on Wednesday.
A check of all the usual sources -- regulatory filings, earnings results, and changes to analysts' targets -- turned up little in the way of company-specific news, driving these cloud stocks higher today. The evidence seems to suggest that most investors are reacting to incremental improvements in the broader economy.
Source Fool.com
CrowdStrike Holdings Inc Stock
The stock is an absolute favorite of our community with 154 Buy predictions and no Sell predictions.
As a result the target price of 324 € shows a positive potential of 33.97% compared to the current price of 241.85 € for CrowdStrike Holdings Inc.
