Piper Sandler Downgrades CrowdStrike on High Valuation, Few Near-Term Catalysts [Yahoo! Finance]
Piper Sandler Companies (PIPR)
Last piper sandler companies earnings: 5/1 08:04 am
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Source: Yahoo! Finance
Analysts lowered their rating to "neutral" from "overweight." Piper Sandler pointed to CrowdStrike's record-high stock price and said the benefits from its opportunities ahead are already baked into that. CrowdStrike ( CRWD ) shares fell in intraday trading Tuesday, a day after the stock received a downgrade from Piper Sandler, which cited the cybersecurity firm's high valuation and shortage of near-term catalysts. Piper Sandler lowered its rating to "neutral" from "overweight," keeping unchanged its price target of $400. CrowdStrike shares recorded an all-time closing high of $392.15 Monday. Analysts 'Remain Excited' But Risk/Reward 'Less Favorable at This Time' The analysts said that while they "remain excited about the next act, with many incremental growth opportunities," the risk/reward on the stock is "less favorable at this time given the strong run." They noted that CrowdStrike's already high annual recurring revenue (ARR) and estimated fiscal year revenue will ma
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PIPR
Earnings
- 4/29/24 - Beat
PIPR
Sec Filings
- 7/2/24 - Form 4
- 7/2/24 - Form 4
- 7/2/24 - Form 4
- PIPR's page on the SEC website