Stifel upgrades CrowdStrike to buy, says cybersecurity stock can rally more than 25%

CrowdStrike IPO at the Nasdaq exchange June 12, 2019.
Source: Nasdaq

CrowdStrike's rapid growth doesn't show signs of slowing down any time soon, and it should lead to significant upside for its stock, according to investment firm Stifel.

The cybersecurity stock was one of the hottest bets on Wall Street in 2020, but shares retreated earlier this year and are now flat versus their early-February levels.

Stifel analyst Brad Reback upgraded the stock to buy from hold, saying in a note to clients on Monday evening that the company was still early in its growth stage.

More In Street Calls

CNBC ProGoldman Sachs, JPMorgan and others warn investors away from Coinbase until 'crypto winter' ends
CNBC ProHere are Wednesday's biggest analyst calls: Apple, Coinbase, Wells Fargo, Roku, Meta, Disney & more
CNBC ProRoku downgraded to underperform at MoffettNathanson despite this month's comeback rally