Piper Sandler lowers CrowdStrike's rating due to limited upside potential.

CrowdStrike Holdings fell 1.8% in pre-market trading in the United States. Piper Sandler downgraded the software company from "overweight" to "neutral" as its stock price has exceeded the investment bank's target price. Piper Sandler analyst Rob Owens stated that he does not see any near-term catalysts that could significantly improve the company's performance or its terminal price-to-earnings ratio. The analyst noted that Piper Sandler remains positive on CrowdStrike and its long-term opportunities as a security and IT integration provider. However, he advised investors not to increase their holdings in the stock at the moment as its upside potential in the short to medium term may be limited. The target price remains unchanged at $505, a 1.8% decrease from the closing price of $514.10 in the New York market on Thursday.