Why CrowdStrike Shares Are Falling

Crowdstrike Holdings Inc CRWD shares are trading lower after Morgan Stanley initiated coverage on the stock with an Underweight rating and a $247 price target.

Mizuho analyst Gregg Moskowitz also maintained CrowdStrike with a Buy and raised the price target from $330 to $360.

CrowdStrike shares are trading roughly 15% of their 52-week high of $298.48, at $254.13. The company will release financial results for its fiscal third-quarter 2022 ended October 31 after the U.S. market close on Wednesday, December 1.

CrowdStrike provides cloud-delivered solutions for endpoint and cloud workload protection in the United States, Australia, Germany, India, Israel, Romania and the United Kingdom.

CrowdStrike has a 52-week high of $298.48 and a 52-week low of $128.22.