Crowdstrike had top results in Wells Fargo security reseller survey

Wells Fargo analyst Andrew Nowinski says the firm’s Q3 security reseller survey results were very similar to Q2. However, the qualitative commentary was a little different, as a number of resellers cited strength in the U.S. federal sector, the analyst tells investors in a research note. Most resellers also said the macro environment slightly improved relative to Q2, which helped drive results, notes Wells. It notes that CrowdStrike (CRWD), Palo Alto Networks (PANW) and Zscaler (ZS) had the strongest results in the survey and improved sequentially. CrowdStrike had the top results in the survey at positive 63% net, which was a solid improvement from last quarter’s 45% net, the analyst says. The firm notes the large resellers in the survey had particularly strong results for CrowdStrike. Okta‘s (OKTA) results modestly improved but were still net negative, Wells adds.