CrowdStrike Faces a 6% Tumble Amid Price Target Cut

GuruFocus.com
03-06

March 6 - Shares of CrowdStrike Holdings (CRWD, Financial) fell more than 6% on Wednesday after UBS Group analysts trimmed its price target from $450.00 to $425.00 while maintaining a buy rating.

  • Warning! GuruFocus has detected 3 Warning Sign with CRWD.

The stock traded as low as $343 and last reached $356.5 amid volatile market conditions. Trading volume surged to 7,302,792 shares, which was about a 105% increase compared to the average session volume of 3,568,453 shares, following a previous close of $390.16.

In related reports, Mizuho raised its price target from $385.00 to $450.00 on February 12, issuing an "outperform" rating. Conversely, HSBC revised its outlook by changing its rating from "buy" to "hold" and setting a target price at $347.00.

In the current market environment, mixed signals from research firms have the potential to add uncertainty, and investors remain cautious. Investors are still cautiously investing in a volatile market despite conflicting analyst ratings and high market volatility. Trading activity continues to be rapid as investors quickly alter their outlook.

This article first appeared on GuruFocus.

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