CrowdStrike Faces a 6% Tumble Amid Price Target Cut
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.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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