CrowdStrike (CRWD) shares climbed more than 7% on May 29. This rally occurred ahead of the company's early June earnings report.
Jefferies increased its price target for the stock to $775 from $500. Benchmark raised its own price target to $700. Both firms maintained buy ratings on the security.
Moody’s upgraded CrowdStrike’s senior unsecured rating to Baa2 with a stable outlook. The agency highlighted the company’s strong market position and projected profit growth. Subscription revenue is also expected to increase significantly.
Investors also reacted to the expansion of the company's AI-related security initiatives.