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Why CrowdStrike Stock Rallied on Tuesday

TheMotleyFool

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Why CrowdStrike Stock Rallied on Tuesday: https://g.foolcdn.com/editorial/images/724637/an-investor-reviewing-graphs-and-charts-on-multiple-computers.jpg

Shares of CrowdStrike (NASDAQ: CRWD) were trading higher on Monday, jumping as much as 5% in early trading. As of 1:37 p.m. ET, the shares were still up 4%.

While the broader market move provided some momentum, the cloud-based cybersecurity specialist was on the receiving end of an analyst upgrade, helping fuel the stock's advance.

Morgan Stanley (NYSE: MS) analyst Hamza Fodderwala raised his price target on CrowdStrike stock to $163, up from $150, while simultaneously maintaining an overweight (buy) rating on the shares. The new price target represents potential gains for investors of 34% compared to Monday's close.

Source Fool.com

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