CrowdStrike Holdings, Inc. (NASDAQ: CRWD) saw its stock soar 5.06% in pre-market trading on Tuesday, following a bullish analyst upgrade and the announcement of a new partner program aimed at accelerating the adoption of its Falcon Next-Gen SIEM platform.
BTIG upgraded CrowdStrike to a "buy" rating from "neutral", citing the company's dominance in the core endpoint security market and its strong positioning in the $6 billion+ Security Information and Event Management (SIEM) market. The brokerage set a price target of $431 for the stock, highlighting CrowdStrike's potential in the growing cloud security space.
Adding to the positive sentiment, CrowdStrike introduced its new Services Partner Program, which empowers global system integrators, managed service providers, and managed security service providers to accelerate the adoption of Falcon Next-Gen SIEM. The program includes new incentives, training, and resources to help partners drive customer success while growing their SIEM transformation businesses. Leading services partners, including Deloitte, Echelon, eSentire, NETbuilder, and Wipro, have already joined the program, signaling strong industry support for CrowdStrike's offerings.
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