CRWD - CrowdStrike Stock Is Ripping Higher Tuesday: Here's Why | Benzinga
CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading higher Tuesday on the back of an upgrade from Morgan Stanley.
Analyst Take: Morgan Stanley analyst Hamza Fodderwala upgraded CrowdStrike from an Equal-Weight rating to an Overweight rating and raised the price target from $203 to $304, citing improving demand, platform traction and upcoming AI product cycles.
The Morgan Stanley analyst expects increased demand and traction to help drive more meaningful upside to annual recurring revenue and free cash flow forecasts in 2024.
Despite CrowdStrike’s significant outperformance over the last year, with shares rallying more than 185%, Fodderwala expects the aforementioned catalysts to drive the stock higher over the course of the year.
“Bottom line, ...