Wells Fargo analyst Andrew Nowinski has reiterated their bullish stance on CRWD stock, giving a Buy rating on August 20.
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Andrew Nowinski has given his Buy rating due to a combination of factors that suggest potential upside for CrowdStrike Holdings. Despite the muted growth expected in the short term, the company’s demand has shown significant improvement, almost reaching pre-outage levels. This recovery indicates a positive trajectory for the company’s performance in the latter half of the year.
Moreover, the company’s emerging products, which include Cloud Security and Identity Protection, are expected to drive ARR growth significantly. Although the partner rebate program might suppress subscription revenue growth temporarily, the overall demand and strategic product offerings suggest a strong potential for future growth. Consequently, Nowinski believes that the sentiment around CrowdStrike will improve, justifying the Buy rating.
In another report released on August 20, Barclays also maintained a Buy rating on the stock with a $500.00 price target.
Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRWD in relation to earlier this year.