Analysts Are Downgrading These 5 Stocks

3. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Number of Hedge Fund Holders: 85

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) recently came into the limelight after receiving a downgrade from Deutsche Bank. The research firm lowered its ratings for the cybersecurity company from “Buy” to “Hold” on Monday, January 23.

Analyst Brad Zelnick believes the cybersecurity sector is more vulnerable than many previously predicted. Zelnick expect software stocks to experience volatility this year. The analyst cut his price target for CrowdStrike Holdings, Inc. (NASDAQ:CRWD) from $150 per share to $115 per share.

Separately, investment management firm Carillon Tower Advisers also briefly discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its fourth-quarter 2022 investor letter, stating:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a provider of cyber security software solutions, delivered quarterly results that exceeded expectations, but provided guidance that disappointed, as the macro economy is causing longer sales cycles and some larger orders are being sold in smaller pieces. However, these deals are not being lost to competitors; they are just being delayed, and management expects enterprise security spending to remain relatively resilient in 2023.”