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Feb. 11, 2020, 8:29 a.m. EST

CrowdStrike stock rises after D.A. Davidson upgrade

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By Emily Bary

Shares of CrowdStrike Holdings Inc. /zigman2/quotes/212513426/composite CRWD +10.45% are up nearly 4% in premarket trading Tuesday after D.A. Davidson analyst Andrew Nowinski upgraded the stock to buy from neutral and raised his price target to $75 from $58. "First, we believe CrowdStrike is significantly benefiting from Broadcom's /zigman2/quotes/200646538/composite AVGO +2.87% acquisition of Symantec, as many resellers have noted an improvement in growth rates," Nowinski wrote. "Second, we are seeing little to no impact from VMware's /zigman2/quotes/209864107/composite VMW +9.71% acquisition of Carbon Black. Third, we are seeing increasing traction with CrowdStrike's other products, including their vulnerability management module." He expects that the company will be able to deliver better-than-expected annual recurring revenue over the next year on the back of these trends. He said that the potential for more market share gains coming from Symantec "is the single largest revenue growth driver for CrowdStrike in 2020." CrowdStrike shares have added 37% over the past three months, as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% has increased 8.6%.

/zigman2/quotes/212513426/composite
US : U.S.: Nasdaq
$ 87.81
+8.31 +10.45%
Volume: 13.49M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$16.95 billion
Rev. per Employee
N/A
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/zigman2/quotes/200646538/composite
US : U.S.: Nasdaq
$ 291.27
+8.13 +2.87%
Volume: 2.73M
May 29, 2020 4:00p
P/E Ratio
48.11
Dividend Yield
4.46%
Market Cap
$113.20 billion
Rev. per Employee
$1.42M
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/zigman2/quotes/209864107/composite
US : U.S.: NYSE
$ 156.27
+13.83 +9.71%
Volume: 5.20M
May 29, 2020 4:00p
P/E Ratio
10.41
Dividend Yield
N/A
Market Cap
$59.54 billion
Rev. per Employee
$413,548
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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