Reported 12 months ago
Piper Sandler downgraded CrowdStrike (CRWD) shares from Overweight to Neutral with a $400 per share price target, citing valuation concerns. Analyst Rob Owens believes the stock is overpriced compared to other software companies and notes its high multiple on sales and free cash flow. Despite the downgrade, Owens remains optimistic about CrowdStrike's fundamental performance and future catalysts, even though the stock had been up over 50% year-to-date and 10% since its S&P inclusion announcement.
Source: YAHOO