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Business

Joey Solitro

CrowdStrike Stock Downgraded: Should Investors Be Worried?

CrowdStrike Piper Sandler Rob Owens CRWD

Red crowdstrike logo on smartphone with red background.

CrowdStrike (CRWD) stock trading lower in Tuesday's session after financial services firm Piper Sandler downgraded the cybersecurity stock to Neutral (the equivalent to a Hold) from Overweight (the equivalent to a Buy).

CRWD stock has been one of the best stocks on the price charts so far in 2024, up nearly 54% for the year to date through the July 1 close. This includes a rally of over 10% since it was announced last month that CrowdStrike would be joining the S&P 500. CRWD's addition to the broad-market index became official on June 24.

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