The hammering on your stock continues CrowdStrike, since last Friday’s blackout issues on millions of Microsoft Windows devices have not been fully resolved.
Remember that as millions of users, including airports, airlines, hospitals and other large businesses and services, faced the “blue screen of death”, chaos reigned from Australia to the US and from India to Europe.
Everything started of a bug in a software update the company’s cybersecurity for Windows. Mac and Linux were not affected.
The CrowdStrike team is still hard at work helping the company’s customers solve their problems.
With the company blamed for the biggest IT system collapse in history, its shares fell 11% on Friday and are under pressure again today. Intra-session shares are down as much as 13%.
What do experts expect?
O Guggenheim Titles downgraded CrowdStrike’s stock to “neutral” from “buy.” Analysts said that while they still have confidence in the company’s leadership, they believe its image has been severely damaged and, at least in the short term, this will hurt subscriptions. However, they emphasize that the company could emerge stronger from this adventure.
O Goldman Sachs in turn, maintained a buy recommendation on the shares, although it indicated in a note that CrowdStrike’s business will likely suffer a delay in closing.