Mizuho raised CrowdStrike's rating due to cybersecurity threats. What does this have to do with Mythos?
Anthropic's new AI model has brought attention to the sector with CrowdStrike leading the way
Mizuho analysts believe CrowdStrike's collaboration with Anthropic on the Glasswing cybersecurity project will boost the company's business operations / Photo: x.com/MercedesAMGF1
Investment bank Mizuho has upgraded its rating on shares of US security software developer CrowdStrike and now advises buying them. A Mizuho analyst saw a catalyst for the company's business in a new cybersecurity initiative from AI startup Anthropic.
Details
Analysts at Mizuho have upgraded CrowdStrike 's stock rating from Neutral to Outperform, CNBC reported. At the same time, the investment bank raised the target price of the securities to $520: this suggests a potential upside of 14% to the price at the close of trading on Monday, April 27. Crowdstrike is a company with "arguably the strongest set of solutions in the cybersecurity market," according to Mizuho analyst Gregg Moskowitz.
The revision was prompted by the launch in early April of Project Glasswing, an initiative by artificial intelligence developer Anthropic that brings together more than 40 technology companies to address next-generation cyber threats. Members of the alliance use the Claude Mythos model to identify vulnerabilities in critical digital infrastructure.
The project's partners initially included only two specialized cybersecurity vendors - CrowdStrike and Palo Alto Networks, Moskovitz said. This in itself is a competitive advantage for these two companies and will at least result in targeted marketing programs, Moskovitz said.
"We see a real opportunity for Project Glasswing to catalyze incremental business activity for CrowdStrike going forward. [...] CrowdStrike is very well positioned to capitalize on AI security, which offers intriguing growth opportunities," said the Mizuho analyst.
What about the stock
On April 27, CrowdStrike securities rose by 1.5% to $454.6. Since the announcement of the launch of Project Glasswing on April 7, the stock has added more than 14%. However, compared to 12 months ago, the company's securities are now worth only 7% more, significantly behind the U.S. broad market index S&P 500, which increased by 29.8% over the same period.
The upgrade from Mizuho fits into the overall positive consensus: according to Marketwatch, a total of 42 out of 56 analysts recommend buying stocks with Buy and Overweight ratings, while the remaining 14 take a neutral stance. KeyBanc and Wolfe Research have also upgraded CrowdStrike in recent weeks, CNBC notes.
This article was AI-translated and verified by a human editor
