TECH - Morgan Stanley Downgrades CrowdStrike Ahead of Q2 - Here's Why The Stock Is Falling | Benzinga
Morgan Stanley analyst Hamza Fodderwala downgraded CrowdStrike Holdings, Inc (NASDAQ: CRWD) to Equal Weight from OverWeight with a price target of $167.
The analyst rerated ahead of the Q2 earnings, as he sees a downside to consensus CY23 and CY24 estimates, which assume a second-half re-acceleration in net new ARR.
His cautious view reflects more recent checks and data points over the last month, citing a further slowdown in key industry verticals, cloud optimization headwinds, and limited upside to FCF margins.
Bottom line, while ...