PANW - CrowdStrike shares climb 7% as CFRA starts coverage with a buy rating

CrowdStrike Holdings (NASDAQ:CRWD) shares put in a strong performance, Wednesday, rising 7% after brokerage CFRA initiated coverage of the cloud-based networking security company with a buy rating. CFRA analyst Janice Quek also set a price target of $317 a share on CrowdStrike, saying that the company is known for having has a "track record of high efficacy and low false positive rates" when it comes to catching and preventing security breaches in corporate networks. Quek said that since a large number of organizations have not yet modernized or consolidated their cybersecurity capabilities, CrowdStrike is poised to provide a one-stop-shopping type of service that will appeal to a broader base of customers. Along with CrowdStrike, other security-technology companies had a mixed day on Wall Street, with Fortinet (NASDAQ:FTNT) rising 1.2%, PaloAlto Networks (NYSE:PANW) ending the day off by 0.2%, SecureWorks (NASDAQ:SCWX) down by 0.6% and McAfee (NASDAQ:MCFE) rising 2.2% on the

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CrowdStrike shares climb 7% as CFRA starts coverage with a buy rating