Piper Sandler Downgrades CrowdStrike on High Valuation, Few Near-Term Catalysts

CrowdStrike was downgraded by Piper Sandler because of its high valuation and lack of near-term catalysts. Analysts lowered their rating to "neutral" from "overweight." Piper Sandler pointed to CrowdStrike's record-high stock price and said the benefits from its opportunities ahead are already baked into that. Piper Sandler lowered its rating to "neutral" from "overweight," keeping unchanged its price target of $400. CrowdStrike shares recorded an all-time closing high of $392.15 Monday. The analysts said t ...