CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading lower Wednesday, pulling back from recent strength. Here's a look at what you need to know.
What To Know: CrowdStrike shares got off to a strong start this week after JPMorgan analyst Brian Essex maintained an Overweight rating and lifted the price target from $372 to $418.
CrowdStrike shares rallied near the $190 level on Monday before pulling back. The stock is continuing to move lower Wednesday morning despite a milestone announcement.
CrowdStrike on Wednesday said the company is the first and fastest pure play SaaS cybersecurity vendor to exceed $1 billion in total sales with SHI International. CrowdStrike and SHI are working on transforming cybersecurity for organizations with the AI-native CrowdStrike Falcon cybersecurity platform.
"SHI's expertise in delivering CrowdStrike's Falcon platform has been pivotal in helping customers to transform their security posture with next-gen SIEM, cloud security, identity protection, and managed services," said George Kurtz, founder and CEO of CrowdStrike.
"Surpassing the $1 billion milestone together is a testament to the strength of our partnership and SHI's ability to deliver cybersecurity transformation and consolidation for organizations of all sizes around the globe."
CRWD Price Action: CrowdStrike shares were down 1.06% at $372.43 at the time of publication, according to Benzinga Pro.
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