Why CrowdStrike Stock Crushed the Market on Friday
CrowdStrike Holdings (NASDAQ: CRWD) was one of the more lucrative cybersecurity stocks to own on the last trading day of the week. The company's stock rose by over 6%, trouncing the S&P 500 index's 1.5% gain, following a glowing review in a new analyst note.
Said note was authored by Cantor Fitzgerald's Jonathan Ruykhaver, who initiated coverage on four cybersecurity stocks after market hours on Thursday. Besides CrowdStrike, this lineup includes CyberArk Software, Cloudflare, and Fortinet. All received overweight (buy) recommendations save for Cloudflare, which was tagged with a neutral.
Of the four, CrowdStrike saw the biggest price pop today. The analyst's price target on the shares is $240, suggesting potential upside of 26%.
Source Fool.com
