Piper Sandler last night downgraded CrowdStrike (CRWD) to Neutral from Overweight with an unchanged price target of $505. The shares are nearing the price target and Piper does not see a near-term scenario that would meaningfully increase estimates, the analyst tells investors in a research note. The firm says that while its disposition towards CrowdStrike and its longer-term opportunity remains favorable, investors should not be adding shares at this time as upside could be limited over the short- to medium-term. It points out the stock is up 60% in the past three months.
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