Why CrowdStrike Stock Crashed Again Today

Shares of embattled cybersecurity company CrowdStrike (NASDAQ: CRWD) crashed on Monday because Friday's incident is still in the spotlight. Various analysts downgraded their near-term expectations for the company from here, which might not be an overreaction. As of 10:15 a.m. ET, CrowdStrike stock was down 12% for the day and it's now down more than 30% from its all-time high hit earlier this month.On Friday, CrowdStrike updated its cloud-based software. But the update had a defect that caused an estimated 8.5 million Microsoft Windows devices to stop working, impacting financial institutions, airlines, and more. The stock obviously dropped on Friday as investors assessed the situation. But today Wall Street analysts are formally expressing their thoughts.Wells Fargo analyst Andrew Nowinski lowered his price target for CrowdStrike stock today in expectation of higher legal fees in the near future, among other things, according to Investing.com. Guggenheim analyst John DiFucci lowered his price target because he expects potential customers to be reluctant to sign new deals for a while, until there's greater certainty that CrowdStrike won't make a mistake as big as the one it made last week.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool