Why Josh Brown Says CrowdStrike Will 'Continue To Win' In Cybersecurity

CrowdStrike Holdings Inc CRWD was featured as the call of the day Tuesday on CNBC's "Fast Money Halftime Report."

What Happened: Goldman Sachs analyst Brian Essex upgraded CrowdStrike from a Neutral rating to a Buy rating and raised the price target from $241 to $285.

Essex notes that as the stock has declined, the fundamentals have improved, presenting investors with an attractive opportunity. The Goldman Sachs analyst believes CrowdStrike is well positioned in the ongoing threat environment.

Related Link: CrowdStrike Shares Pop On Goldman Sachs Rating Upgrade

Brown's Take: Ritholtz Wealth Management's Josh Brown sees enormous opportunity ahead for CrowdStrike as cybersecurity becomes increasingly important. 

"I don't think that we're even in the second inning yet of how important cybersecurity and how large the addressable market is going to become within our lifetimes," Brown said. 

He noted that all technological advancement requires security, and he expects cyberattacks to occur with increasing regularity and intensity. CrowdStrike was recently granted a higher level certification with the Department of Defense than almost all others in the space, he added. 

CrowdStrike announced on Friday that it received a Provisional Authorization to Operate at Impact Level 4 to protect critical U.S. DoD assets.

Brown also highlighted the company's recent partnerships with Amazon.com Inc AMZN and Mandiant Inc MNDT.

"I think they continue to win because they have one of the best products," he stressed. 

CRWD Price Action: Crowdstrike has traded between $150.02 and $298.48 over a 52-week period.

The stock was up 4.40% at $226.12 at press time, according to data from Benzinga Pro.

Photo: courtesy of CrowdStrike.