CrowdStrike Stock Surges After Strategic Partnership With Cognizant, Price Target Bump By Scotiabank: Retail Turns Bullish
CrowdStrike and Cognizant have teamed up to help enterprises streamline their security operations and strengthen their cybersecurity posture.
FollowShares of CrowdStrike Holdings Inc. (CRWD) gained 3% in mid-day trade on Tuesday after the company announced a strategic partnership with Cognizant Technology Solutions Corp. (CTSH).
At the ongoing World Economic Forum’s annual meeting in Davos, CrowdStrike and Cognizant announced that they have teamed up to help enterprises streamline their security operations and strengthen their cybersecurity posture.
"Our partnership with Cognizant delivers cutting-edge cybersecurity solutions that tackle the evolving challenges enterprises face today and tomorrow," said George Kurtz, CEO and founder, CrowdStrike.
The two companies will use CrowdStrike’s AI-native Falcon cybersecurity platform.
“As the enterprise digital landscape evolves, it is crucial to leverage AI for cybersecurity and cloud-native security technologies to help stay ahead of threats and ensure the resilience of our clients' infrastructure,” Ravi Kumar S, CEO, Cognizant.
CrowdStrike has also received a price target hike from the analysts at Scotiabank to $370 from $300, with a ‘Sector Perform’ rating.
Earlier last week, analysts at Citi upped their price target on the stock to $420 from $400.
Retail sentiment on Stocktwits entered the ‘bullish’ (72/100) territory from ‘bearish’ (37/100) a day ago.
CRWD sentiment and message volume January 21, 2025, as of 2 pm ET | Source: Stocktwits
Users on Stocktwits were optimistic about CrowdStrike stock.
CrowdStrike’s share price has surged more than 39% over the past six months, but its one-year performance is relatively less stellar with returns of 23%.
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