CrowdStrike (NASDAQ:CRWD) gained Wednesday after BMO Capital Markets initiated coverage of the stock.
Analyst Keith Bachman named the stock an outperformer, saying CrowdStrike could compete within the endpoint security market and had significant growth opportunities. His price target implied an upside of 14.9% over where it closed Tuesday.
“We believe that CrowdStrike offers best-in-class endpoint security capabilities and an expanding platform that will help CrowdStrike compete against Microsoft (NASDAQ:MSFT) and other vendors,” Bachman said in a note to clients Wednesday.
What’s more, announced that two key executives have joined its leadership team to continue driving momentum across the company’s channel and small business segments, and to scale what is widely recognized by the market as the industry’s most innovative modern security platform.
Daniel Bernard has been appointed as chief business officer, and Raj Rajamani has been named chief product officer, DICE (Data, Identity, Cloud and Endpoint). Bernard will report directly to CrowdStrike founder and CEO, George Kurtz. Rajamani will report to CrowdStrike’s chief product & engineering officer, Amol Kulkarni.
Bernard and Rajamani, who most recently served as the chief marketing officer and chief product officer at SentinelOne (NYSE: S), respectively, bring extensive experience with high-growth, disruptive cloud and SaaS businesses, as well as elite reputations in the cybersecurity industry. Both have been widely recognized as key architects of SentinelOne’s go-to-market and product strategy.
CRWD shares rallied $1.01, or 1%, to $105.44.
