Why CrowdStrike Stock Was Up Almost 14% Last Month
Shares of cybersecurity company CrowdStrike Holdings (NASDAQ: CRWD) were up 13.7% in March, according to data provided by S&P Global Market Intelligence. The company reported strong financial results during the month, which was followed by bullish commentary from prominent analysts, leading to the stock's outperformance during March.
On March 7, CrowdStrike reported financial results for the fourth quarter of its fiscal 2023. The company's Q4 revenue and profitability were better than what analysts expected. And results were ahead of management's own guidance as well.
On March 8, analysts came out of the woodwork upgrading their outlooks on CrowdStrike stock. For example, UBS analyst Roger Boyd raised his price target for CrowdStrike stock from $150 per share to $165 per share, saying Q4 financial results were "a step in the right direction," according to The Fly.
Source Fool.com
