tiprankstipranks
Market News

CrowdStrike Completes $392M Humio Deal; Street Remains Bullish

CrowdStrike Holdings has completed the cash-and-stock acquisition of Humio, a provider of high-performance cloud log management and observability technology. Notably, the cloud-based cybersecurity provider had announced the deal on Feb. 18. Meanwhile, shares are down about 3.3% in Tuesday’s pre-market trading.

CrowdStrike (CRWD) has paid approximately $352 million in cash and $40 million in stock and options for Humio.

The company’s CEO George Kurtz said, “Humio will enhance CrowdStrike’s ability to solve real-world customer problems with its cloud-native platform by adding index-free data ingestion and analysis capabilities for both first- and third-party data.” Kurtz added that the acquisition would also accelerate “our XDR [extended detection and response] capabilities to cloud speed, re-defining the industry standard for modern XDR.” (See CrowdStrike stock analysis on TipRanks)

On Feb. 18, Canaccord Genuity analyst Michael Walkley maintained a Buy rating and a price target of $280 (52.9% upside potential) on the stock. In a note to investors, the analyst said, “We view CrowdStrike as a long-term secular winner in security due to its native cloud platform advantage versus closely held peers, and its expansion into tangential segments to capture a greater share of security budgets.”

Overall, consensus among analysts is a Strong Buy based on 15 Buys and 3 Holds. The average analyst price target of $240.94 implies upside potential of about 32% to current levels. Shares have rallied by over 220% over the past year.

Furthermore, TipRanks data shows that financial blogger opinions are 98% Bullish compared to a sector average of 70%.

Related News:
GE To Combine GECAS Business With AerCap – Report
Chevron Inks Deal To Buy Noble Midstream Partners; Shares Gain 4%
Equity Residential Marks Improving Trends In February; Street Says Hold

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More