Crowdstrike price target lowered to $310 from $400 at Piper Sandler

Piper Sandler analyst Rob Owens lowered the firm’s price target on Crowdstrike to $310 from $400 and keeps a Neutral rating on the shares. The firm says that “clearly” it will be difficult for investors to quantify the impact of last week’s faulty update given the sheer magnitude and disruption created by the incident. Piper was “impressed by CEO Kurtz being front and center,” apologizing to those impacted and getting a fix out in short order – but the firm feels there remains much more uncertainty with potential regulation, legal issues and claims.