CrowdStrike Stock Hits Record High as Wedbush Calls It Industry ‘Gold Standard’

CrowdStrike Holdings (CRWD) shares advanced more than 4% to an all-time high Thursday as Wedbush raised its price target, saying its look into the cybersecurity firm shows it remains the “gold standard” in the industry.

In a note to clients, Wedbush lifted the price target to $575 from $525, while maintaining an “outperform” rating. The analysts explained that CrowdStrike has had “increased momentum in the field around its cyber platform approach based on our recent checks coming in very strong with healthy momentum into the next year for one of the stalwarts of cyber security.”

The analysts noted that the spread of “deal momentum” with artificial intelligence is “also a clear tailwind.” They added because of its strength in the AI space, “the company has seen less discounting in the field while new logos are increasing, pointing to continued momentum across new customer acquisitions.”

The analysts said they “believe that CRWD remains at the forefront of securing the AI Revolution over the coming years.”

Shares of CrowdStrike Holdings recently were trading at more than $515 after earlier touching a record $517.98. They have gained more than 50% this year.