Technology
What Analysts Are Saying About CrowdStrike After the Quiet Period
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CrowdStrike Holdings Inc. (NASDAQ: CRWD) shares rose in Monday’s session after its quiet period came to a close and analysts could weigh in on the stock. Overall, the firm saw predominantly positive ratings.
Although the stock is down from its post-IPO highs, it still is positive in relation to when it came public. In the initial public offering, the stock was expected to price in the range of $28 to $30, but it actually priced at $34 apiece and then entered the market sharply higher at $63.50.
CrowdStrike was founded in 2011 to reinvent security for the cloud era. When the company was started, cyberattackers had a decided, asymmetric advantage over existing security products. Now the firm has turned the tables on the adversaries by taking a fundamentally new approach that leverages the network effects of crowdsourced data applied to modern technologies such as artificial intelligence, cloud computing and graph databases.
Some of the world’s largest enterprises, government organizations and high-profile brands use CrowdStrike to protect their businesses. As of January 31, 2019, the firm had 2,516 subscription customers worldwide, including 44 of the Fortune 100, 37 of the top 100 global companies and nine of the top 20 major banks.
Here’s what the analysts had to say:
Shares of CrowdStrike were up over 4% to $70.13 on Monday, in a post-IPO range of $56.00 to $79.79.
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