Crowdstrike price target lowered to $285 from $400 at Barclays

Barclays lowered the firm’s price target on Crowdstrike to $285 from $400 and keeps an Overweight rating on the shares. The firm says it is difficult to estimate what the medium-term financial impact will be from the global IT outage. While the stock “could get worse before better,” Barclays ultimately thinks Crowdstrike remains a long-term security leader, the analyst tells investors in a research note. It estimates downside to $215 per share and upside to $310, with a base case of $285.