Jim Cramer Believes Crowdstrike (CRWD) Shouldn’t Be Afraid of Anthropic

We recently published 17 Stocks Jim Cramer Talked About.  CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is one of the stocks that Jim Cramer talked about.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity software services provider. The shares are down by 5.7% over the past year and by 5.3% year-to-date. Investment bank HSBC was out with a major upgrade for the firm in mid-February. It upgraded the stock to Buy from Hold and set a $446 share price target. The bank commented that CrowdStrike Holdings, Inc. (NASDAQ:CRWD) had an edge in using artificial intelligence and machine learning for threat detection and added that the firm also enjoyed a key position in critical industry sectors. HSBC’s coverage came after Macquarie had discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in late January. It reiterated a Neutral rating and a $485 share price target. The bank outlined that the software company enjoyed a key position in important industries such as endpoint platforms and identity protection. Cramer has been quite optimistic about the cybersecurity sector over the past couple of months and he maintained the tone in this appearance as well:

“Yeah now the IGV was really the culprit. I think a lot of the stocks are in the IGV, including two of the top ten are cybersecurity companies, [inaudible] here Crowdstrike one of the highest, is a great partner of Anthropic. So the idea that Anthropic is somehow gonna drill George Kurtz’s company, is entirely unlikely. They’re buddies. So the stock is down today, I’m just gonna call that plain and simple wrong, and an opportunity. How much can they disable Microsoft? Not clear, I don’t think much at all, I think that one could bounce.”

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Disclosure: None. This article is originally published at Insider Monkey.