CrowdStrike stock dropped 16% due to major IT outage

From NASDAQ: 2024-07-26 20:32:54

CrowdStrike (NASDAQ: CRWD) stock plummeted 16% this week following a major IT outage tied to the company’s software. The bug caused millions of computers using Windows to go offline, sparking investor concerns. CEO George Kurtz reported a 97% recovery rate for affected systems, but analysts are slashing price targets on the stock.

Analysts at Citigroup and Barclays have both lowered their one-year price targets on CrowdStrike, citing ongoing concerns after the IT outage. Despite potential upside of 35% or 11%, depending on the target, there are fears the stock could fall significantly. Barclays sees potential for the stock to rise to $310 per share, or plummet to $210 per share.

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Read more at NASDAQ: Why CrowdStrike Stock Plummeted Again This Week