Cyber security names are going down in flames today as the market slowly digests the latest numbers from CrowdStrike Holdings (NASDAQ:CRWD).
While CRWD delivered a better-than-expected bottom line along with a nearly 53% year-over-year increase in its topline, a lower-than-expected outlook played spoilsport.
Consequently, CRWD shares are already down nearly 18% ahead of the market opening today.
In reaction to the numbers, Jefferies analyst Joseph Gallo has scaled back the price target on the stock to $175 from $220 while maintaining a Buy rating.
Overall, the Street still has a Strong Buy consensus rating on CRWD alongside a $201 price target which indicates a 45.68% potential upside for the stock.
Along with CRWD, major cyber security names including Zscaler (NASDAQ:ZS), Palo Alto Networks (NASDAQ:PANW), Check Point Software, and Sentinel One (NYSE:S) too are in the red today.
Further, the First Trust Nasdaq CEA Cybersecurity ETF (CIBR) is now down nearly 23% year-to-date.
Read full Disclosure
