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CRWD

Crowdstrike

$54.07

-3.88 (-6.70%)

14:58
12/02/19
12/02
14:58
12/02/19
14:58

Crowdstrike slips as Baird cuts target, sees potential lock-up pressure

Shares of Crowdstrike (CRWD) are moving lower after an analyst from Baird cut his price target on the stock ahead of the company's third quarter earnings report on December 5. WHAT'S NEW: Before the market open, Baird analyst Jonathan Ruykhaver maintained a Neutral rating on Crowdstrike but cut his price target on the shares to $65 from $75, saying he expects the company to continue to show "robust growth" in its Q3 report. The analyst said his view on overall competitive positioning in the endpoint security market and ability to executive continues to be unchanged, and he still sees Crowdstrike as "well positioned" to take "significant" market share. Ruykhaver noted, however, that he believes the current valuation is pricing in a roughly 50% top-line compound annual growth rate over the next four years and for the stock to rise materially from current levels, he believes the company would have to "meaningfully" exceed these expectations. The analyst also noted that Crowdstrike's lockup period is set to expire on December 9. That the expiration may weigh on the stock, as the company sold only a relatively small portion of its total shares through its initial public offering, with only 20.7M shares currently outstanding, Ruykhaver argues. PRICE ACTION: In afternoon trading, Crowdstrike shares are down about 6.8% at $54.06.

  • 05

    Dec

  • 12

    Dec

CRWD Crowdstrike
$54.07

-3.88 (-6.70%)

11/12/19
GSCO
11/12/19
UPGRADE
Target $55
GSCO
Neutral
Crowdstrike upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Heather Bellini upgraded Crowdstrike Holdings to Neutral from Sell with a price target of $55, down from $66. The shares closed Monday down $1.01 to $46.20. The analyst, who continues to view CrowdStrike as a leading next-generation endpoint security vendor, sees a more balanced risk/reward with the stock down 23% since her October 11 downgrade to Sell.
11/12/19
11/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Argo Group (ARGO) upgraded to Outperform from Market Perform at Keefe Bruyette with analyst Christopher Campbell saying he believes the company's "sizable" Q4 International reserve charge will restore balance sheet confidence and that new CEO Kevin Rehnberg's U.S. Operations outperformance can be replicated in its International segment. 2. Live Nation (LYV) upgraded to Outperform from In Line at Evercore ISI with analyst David Joyce saying he believes Live Nation shares have "pulled back needlessly" following its Q3 earnings results, and recommended taking advantage of the pullback. 3. Rent-A-Center (RCII) upgraded to Buy from Hold at Stifel with analyst John Baugh saying the recent pullback in the shares creates an attractive entry point. 4. Crowdstrike (CRWD) upgraded to Neutral from Sell at Goldman Sachs with analyst Heather Bellini she sees a more balanced risk/reward with the stock down 23% since her October 11 downgrade to Sell. 5. Teva (TEVA) upgraded to Neutral from Underweight at JPMorgan with analyst Christopher Schott citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/18/19
DADA
11/18/19
INITIATION
DADA
Neutral
Crowdstrike initiated with a Neutral at DA Davidson
DA Davidson analyst Andrew Nowinski initiated coverage of Crowdstrike with a Neutral rating.
11/18/19
DADA
11/18/19
INITIATION
Target $55
DADA
Neutral
Crowdstrike valuation appropriately balances upside potential, says DA Davidson
As reported earlier, DA Davidson Andrew Nowinski initiated coverage of Crowdstrike (CRWD) with a Neutral rating and $55 price target, saying the company is generating "unmatched" ARR growth, driven by sustainable, competitive advantages from a cloud-based platform. Nowinski said he believes the Amazon Web services (AMZN) partnership is seeing increasing momentum and the company has the potential to expand margins longer-term. The analyst noted, however, that he believes the current valuation appropriately balances the upside potential from these drivers.

TODAY'S FREE FLY STORIES

PLMR

Palomar

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  • 10

    Dec

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    Dec

ASAZY

Assa Abloy

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Assa Abloy rating change at JPMorgan »

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RXEEY

Rexel

$0.00

(0.00%)

20:23
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Rexel rating change at JPMorgan »

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TATYY

Tate & Lyle

$0.00

(0.00%)

20:22
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Tate & Lyle rating change at Jefferies »

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AUO

AU Optronics

$0.00

(0.00%)

20:20
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12/08
20:20
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20:20
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AU Optronics rating change at Morgan Stanley »

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LPL

LG Display

$6.22

0.115 (1.89%)

20:17
12/08/19
12/08
20:17
12/08/19
20:17
Upgrade
LG Display rating change at Morgan Stanley »

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  • 09

    Dec

ETNB

89bio

$28.38

0.86 (3.13%)

20:16
12/08/19
12/08
20:16
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20:16
Initiation
89bio initiated at Oppenheimer »

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ANIOY

Acerinox

$0.00

(0.00%)

20:15
12/08/19
12/08
20:15
12/08/19
20:15
Upgrade
Acerinox rating change at Jefferies »

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03/08/13
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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

20:15
12/08/19
12/08
20:15
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20:15
Conference/Events
Blueprint Medicines to hold an anlayst and investor event »

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  • 08

    Dec

  • 08

    Dec

TLSNY

Telia

$0.00

(0.00%)

20:14
12/08/19
12/08
20:14
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20:14
Downgrade
Telia rating change at Jefferies »

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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
12/08/19
12/08
20:13
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Recommendations
Arrowhead analyst commentary at Piper Jaffray »

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

20:08
12/08/19
12/08
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Recommendations
Argenx analyst commentary at Stifel »

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  • 16

    Dec

STC

Stewart

$43.16

0.28 (0.65%)

19:56
12/08/19
12/08
19:56
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19:56
Downgrade
Stewart rating change at Keefe Bruyette »

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FAF

First American

$63.05

(0.00%)

19:55
12/08/19
12/08
19:55
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19:55
Downgrade
First American rating change at Keefe Bruyette »

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  • 13

    Feb

PFSI

PennyMac Financial

$33.91

0.12 (0.36%)

19:54
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12/08
19:54
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19:54
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PennyMac Financial rating change at Keefe Bruyette »

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
12/08/19
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18:40
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Agios Pharmaceuticals analyst commentary at Piper Jaffray »

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  • 09

    Dec

  • 13

    Dec

BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

18:34
12/08/19
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18:34
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  • 08

    Dec

  • 08

    Dec

FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

18:29
12/08/19
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Fate Therapeutics analyst commentary at Piper Jaffray »

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RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

18:05
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  • 08

    Dec

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    Dec

ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

18:03
12/08/19
12/08
18:03
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18:03
Recommendations
Argenx, Johnson & Johnson analyst commentary at Piper Jaffray »

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

03/08/13
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  • 08

    Dec

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    Dec

  • 16

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  • 21

    Jan

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

17:58
12/08/19
12/08
17:58
12/08/19
17:58
Recommendations
Bluebird Bio, Johnson & Johnson, Amgen, Bristol-Myers, Regeneron analyst commentary at Piper Jaffray »

Piper says…

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

AMGN

Amgen

$233.74

0.3 (0.13%)

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

REGN

Regeneron

$372.26

4.02 (1.09%)

03/08/13
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  • 08

    Dec

  • 08

    Dec

  • 09

    Dec

  • 11

    Dec

  • 21

    Jan

BGNE

BeiGene

$186.89

-2.3 (-1.22%)

17:50
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  • 09

    Dec

  • 27

    Feb

LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

16:34
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  • 08

    Dec

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    Dec

  • 17

    Dec

  • 30

    Jan

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

16:32
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  • 08

    Dec

  • 09

    Dec

  • 11

    Dec

QURE

uniQure

$66.06

1.5 (2.32%)

16:26
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  • 09

    Dec

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