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CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares traded lower on Tuesday despite fresh analyst optimism and a new channel expansion across Europe.
BTIG analyst Gray Powell maintained a Buy rating on CrowdStrike and lifted his price forecast from $489 to $640.
According to Benzinga Pro, CRWD stock has gained over 80% in the past year. Investors can gain exposure to the stock via Listed Funds Trust TrueShares Technology, AI & Deep Learning ETF (NYSE:LRNZ).
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Separately, the company rolled out a new Authorized Support Partner Program across Europe. The initiative was created with distributors Ignition Technology and Westcon-Comstor to deliver localized Level 1 and Level 2 support for the CrowdStrike Falcon platform. Customers will have multilingual access to support in English, French, German, Spanish, and Arabic.
CrowdStrike highlighted independent Canalys research showing that every dollar of Falcon platform sales can generate up to seven dollars in partner services revenue.
The company stated that this validates its ecosystem-focused strategy and helps service providers expand margin opportunities while improving customer experience.
The new program gives approved distributors the ability to offer CrowdStrike-certified support, which downstream partners such as resellers and managed service providers can extend to their own clients.
CrowdStrike added that this increases capacity across the region, strengthens language coverage, and makes it easier for small and mid-sized businesses to adopt enterprise-grade security.
"Distributors play a pivotal role in extending CrowdStrike's reach and impact across Europe," said Dan Danielli, vice president of global distribution at CrowdStrike. "It's a force multiplier that strengthens the entire ecosystem and helps more customers get the most out of the Falcon platform."
Executives from Ignition Technology and Westcon-Comstor also noted growing demand for Falcon-powered services and improvements in scalability and efficiency.
Price Action: CRWD shares are trading 2.66% lower at $537.43 at last check on Tuesday.
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