CrowdStrike Holdings, Inc. (CRWD) saw its stock price plummet by 5.14% in pre-market trading on Monday, following a series of analyst price target reductions. The cybersecurity company's shares faced downward pressure as multiple firms adjusted their outlook on the stock.

Jefferies lowered its price target on CrowdStrike from $425 to $410, while maintaining a Buy rating on the shares. Similarly, Truist Securities cut its target price to $450 from $460. These downgrades, coming from prominent financial institutions, appear to have sparked concerns among investors, leading to the sharp decline in CrowdStrike's stock price.

Despite the price target reductions, it's worth noting that analysts still maintain a generally positive outlook on CrowdStrike. According to FactSet, the company has an average rating of overweight among analysts, with a mean price target of $412.19. This suggests that while short-term expectations may have been tempered, the long-term prospects for CrowdStrike remain favorable in the eyes of many market experts.