What Happened?
Shares of cybersecurity company CrowdStrike (NASDAQ:CRWD) jumped 5.2% in the morning session after BTIG upgraded the stock's rating from Neutral to Buy. The firm felt there was improved forecast visibility given that the July 2024 global IT outage was now "eight months in the rearview mirror."
The shares closed the day at $385.04, up 3.3% from previous close.
Is now the time to buy CrowdStrike? Access our full analysis report here, it’s free.
What The Market Is Telling Us
CrowdStrike’s shares are quite volatile and have had 17 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 13 days ago when the stock gained 5.3% on the news that markets experienced a boost after data from the Bureau of Labor Statistics revealed that inflation for the month of February 2025 came in better than expected.
The CPI rose 0.2% from the previous month (vs estimates for a 0.3% increase), while headline inflation rose 2.8% year on year (vs estimates for a 2.9% y/y increase). The data revealed inflation continued to edge closer to the Fed's 2% target, but not quite there yet. The reaction wasn't anything wild, but the sentiment leaned positive. The Nasdaq led the way, climbing 1.4%, boosting some tech stocks.
CrowdStrike is up 10.9% since the beginning of the year, but at $385.30 per share, it is still trading 15.4% below its 52-week high of $455.36 from February 2025. Investors who bought $1,000 worth of CrowdStrike’s shares 5 years ago would now be looking at an investment worth $6,907.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.