Jefferies analyst Joseph Gallo downgraded Crowdstrike to Hold from Buy with a price target of $120, down from $175. The analyst believes 2023 will be a more challenging fundamental year for cybersecurity growth names. While he continues to view Crowdstrike "very positively" in endpoint and expects the company to take share, the analyst says upside to consensus estimates will be less in 2023.
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Published first on TheFly
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