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MarketBeat

Chris Markoch

CrowdStrike’s Floor Test After Fortinet’s Upgrade: What Comes Next?

CrowdStrike CRWD Cybersecurity FTNT MarketBeat

CrowdStrike Holdings Inc. (NASDAQ: CRWD) stock has declined nearly 8% year-to-date amid broader market pressures. The general slump in technology stocks has become sharply focused on software stocks, including some of the top cybersecurity names.

However, analyst sentiment suggests that CRWD stock may be finding a floor ahead of its March earnings report. That theory started to play out on Jan. 23 when Fortinet Inc. (NASDAQ: FTNT) received a bullish upgrade from TD Cowen. The firm raised its rating on FTNT to Buy from Hold and set a $100 target.

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