CrowdStrike (NASDAQ:CRWD) news for Friday concerning a positive forecast from Nomura has CRWD stock up.
The forecast from Nomura claims that investors are likely going to see “hyper-growth” in 2020. What that note from the firm doesn’t include is an update on its standing when it comes to CRWD stock.
Nomura is still keeping its “Buy” rating for CRWD stock. The CrowdStrike news also has it maintaining the $71 price target as well. For comparison, CRWD stock was trading at $49.44 when markets closed on Thursday. That means Nomura is expecting a roughly 43.61% upside to the stock’s price, reports Seeking Alpha.
Nomura isn’t the only firm expecting a strong increase in CRWD stock. The average price target from analysts is sitting at $78 per share. While it’s true that CRWD stock is on the move Friday following the forecast from Nomura, it’s still nowhere near that price. CRWD stock was sitting at $50.64 at the time of this writing.
It will still be some time before CRWD stock investors see how the company starts out the new year. It most recently reported earnings for its fiscal third quarter of 2019 on Dec. 5, 2019. The company’s fiscal fourth quarter of 2019 won’t close until Jan. 31, 2020. Investors will likely have to wait about a month after this to see how it closes out 2019 and even longer to see what fiscal 2020 will hold.
CrowdStrike stock was up 2.43% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.