CRWD - CrowdStrike CheckPoint dip as Jefferies hikes PTs on cybersecurity stocks

CrowdStrike Holdings (NASDAQ:CRWD), CheckPoint Software (NASDAQ:CHKP), SentinelOne (NYSE:S) and Palo Alto Networks (NASDAQ:PANW) shares dipped on Monday despite investment firm Jefferies hiking the price target on the group, noting that "Cybersecurity is more important than ever." Analyst Joseph Gallo, who assumed coverage on the sector, raised the price target on CrowdStrike to $275 from $265, CheckPoint to $155 from $135, Palo Alto to $725 form $650 and Sentinel to $40 from $35, while noting that CrowdStrike (CRWD) is the "largest  beneficiary of an increased attack environment." "We view CRWD as a category winner blurring the lines between cyber/infra addressing a huge and ever expanding [total addressable market] sustaining hyper growth for years justifying a premium 19x EV/2023E [revenue] valuation," Gallo wrote in a note to clients. CrowdStrike (CRWD) fell slightly less than 1% to $233.18, while CheckPoint Software (CHKP), SentinelOne (S) and Palo Alto Networks (PANW) were down fractionally. In addition, Gallo

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CrowdStrike, CheckPoint dip as Jefferies hikes PTs on cybersecurity stocks