CrowdStrike sees Q4 adjusted per-share loss of 9c-8c vs Street’s 11c view

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CrowdStrike’s stock rises after SunTrust turns bullish, sees 41% upside

Shares of CrowdStrike Holdings Inc. rose 1.4% in premarket trading Thursday, after SunTrust Robinson Humphrey upgraded the cybersecurity company, citing the “fastest growth rate at scale” of all the companies he covers. Analyst Joel Fishbein assumed coverage of CrowdStrike at buy, up from a previous rating of hold, and kept the price target at $80, which is 41% above Wednesday’s closing price of $56.63. “CrowdStrike has delivered differentiated intelligent agent technology, Threat Graph database leveraging sophisticated [artificial intelligence] models and behavior analytics and an expansive set of cloud modules that address a wide variety of security use cases,” Fishbein wrote in a note to clients. The stock has tumbled 15.8% over the past three months through Wednesday, while the S&P 500 has lost 3.6%.

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