2024-07-26 15:54:32 ET
Summary
- CrowdStrike Holdings, Inc. stock dipped over 17% since last Friday's global outage; I'm upgrading the stock from a buy to a strong buy.
- In my opinion, the stock presents an attractive buying window after the 31% pullback this month, deflating some AI-led positives that had been priced in.
- My positive outlook from early July remains at play; I'm anticipating better top-line growth on the back of Falcon Flex and increased eight or more module deals.
- I share my thoughts on CrowdStrike here and why I see upside in FY2025.
Investment thesis
I'm upgrading CrowdStrike Holdings, Inc. ( CRWD ) from a buy to a strong buy in light of last Friday's events and the pullback that followed. The stock was down over 14% on Friday and has been down around 17% since. I last wrote on CrowdStrike early this month with a positive thesis, arguing that "CrowdStrike stock will see more upside due to its strategic position in the cybersecurity space amid the AI moment through its AI-native Falcon Flex subscription model" and increased eight or more module deals. The stock underperforms the S&P 500 by ~32% since my initiating with a buy. I stand behind my positive thesis on CrowdStrike, despite investor panic that caused the stock to trade off....
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For further details see:
CrowdStrike: I Know What You Did Last Friday - Upgrading To A Strong Buy