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Why CrowdStrike’s stock just got downgraded after a monster rally https://t.co/6MfpjX1UHg
Piper Sandler Downgrades CrowdStrike to Neutral from Overweight, Keeps $400 PT
$CRWD Piper Sandler cuts CrowdStrike as risk/reward 'less favorable' This downgrade is a "valuation call," according to Piper Sandler. They acknowledge CrowdStrike's strong performance and momentum but believe the current stock price has already priced in much of this future…
Piper Sandler has downgraded CrowdStrike (CRWD) from Overweight to Neutral, maintaining a price target of $400. The downgrade is attributed to the stock reaching the highest revenue multiple among public software companies with a market cap over $75 billion. Piper Sandler's analysts believe that the current stock price has already factored in much of CrowdStrike's future performance, making the risk/reward profile less favorable. This downgrade is described as a 'valuation call' by Piper Sandler. Following the downgrade, CrowdStrike shares fell 2% in premarket trading.