CrowdStrike (CRWD) - Get CrowdStrike Holdings, Inc. Class A Report rose 3% to $47.58 trading Wednesday after a Nomura Instinet analyst initiated coverage of the cybersecurity company with a buy rating and a $65 price target.
Analyst Christopher Eberle said in a note to investors that the Sunnyvale, Calif., company was disrupting the endpoint security market with a "cloud-native security platform."
Eberle said Crowdstrike's proprietary technology, rapid customer adoption and open architecture will continue to drive greater adoption both with security and beyond.
CrowdStrike's sales growth should continue to exceed expectations for "several years," he said.
The company, which went public in June, has "one of the most attractive land-and-expand models in the enterprise software space," Eberle wrote.
Save 57% during our Halloween Sale.Don't let this market haunt you and join Jim Cramer's Investment Club, Action Alerts PLUS. Click here to sign up!