Wolfe Research upgrades Crowdstrike to 'outperform'; shares rise

Crowdstrike Holdings' shares CRWD.O rise 4.6% to $386.47

Brokerage Wolfe Research upgrades CRWD to "outperform" from "peer perform"

The stock fell about 6% on Friday alongside cybersecurity peers after news of Anthropic's upcoming "Mythos" model, which reportedly includes significantly improved cybersecurity capabilities

Wolfe says despite market concerns that Anthropic could erode security vendors' pricing power, it believes this environment will drive enterprises to rapidly consolidate their security spending onto fewer, more capable platforms. This directly benefits CRWD given its strong Falcon Platform, Flex contracting, and brand positioning

41 of 55 brokerages rate the stock "buy" or higher, 13 "hold" and 1 "sell"; their median PT is $490 - LSEG data

Including session's moves, stock is down 17.5% YTD, compared with a 9.8% decline in the Nasdaq .IXIC