What happenedShares of CrowdStrike (NASDAQ:CRWD) were trading lower on Monday. The cloud-based cybersecurity specialist fell by as much as 5.2% in early trading, and as of 12:36 p.m. EDT was still down by 3.7% compared to Friday’s closing price.The stock was the victim of an analyst downgrade, but things aren’t as bad as they might appear at first glance.Image source: Getty Images.So whatGoldman Sachs analyst Brian Essex downgraded CrowdStrike stock to neutral (hold) from buy, but he did maintain his $305 price target, which represents more than 16% upside from Friday’s closing price. The analyst explained the downgrade based on CrowdStrike’s performance in its fiscal second quarter, which ended July 31.”[R]evenue growth of 69.7% this quarter was very impressive in our view, but net new ARR [annual recurring revenue] only hit $151 million,” Essex wrote. That’s an interesting take, but put into context, it doesn’t seem that dire.CrowdStrike added $143.8 million in net new ARR in its first quarter and<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of CrowdStrike (NASDAQ:CRWD) were trading lower on Monday. The cloud-based cybersecurity specialist fell by as much as 5.2% in early trading, and as of 12:36 p.m. EDT was still<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[36,1],"tags":[27,29,279],"class_list":["post-177816","post","type-post","status-publish","format-standard","hentry","category-markets","category-news","tag-economy","tag-markets","tag-nasdaq"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/177816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=177816"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/177816\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=177816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=177816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=177816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}