Shares of CrowdStrike (CRWD) gained on Thursday after SunTrust Robinson Humphrey upgraded the cybersecurity company, citing the "fastest growth rate at scale" of all the companies it covers.
In a note to clients announcing his assumption of coverage on the company, SunTrust analyst Joel Fishbein lifted his rating on CrowdStrike to buy from hold and kept the price target at $80, some 40% above Wednesday's closing price of $56.63.
Shares of CrowdStrike were up 1.25% at $57.34 in morning trading.
The Sunnyvale, Calif.-based company, which the FBI used to assess the Russian hacking of the DNC, posted a non-GAAP net loss of $23.1 million, or 18 cents a share, vs. a loss of $30.4 million, or 69 cents a share, in the comparable year-ago quarter.
Analysts polled by FactSet had been expecting a loss of 23 cents a share. The company next reports on Jan. 1, 2020. Analysts polled by FactSet are expecting a loss of 12 cents a share on revenue of $118.9 million.
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