DocuSign, CrowdStrike Climb on Zoom Results

DocuSign, CrowdStrike Climb on Zoom Results

CrowdStrike Holdings  (CRWD) – Get Report, DocuSign  (DOCU) – Get Report, and other work-from-home stocks were climbing Tuesday after Zoom Video Communications  (ZM) – Get Report shattered Wall Street’s earnings expectations.

Shares of CrowdStrike were climbing 7.0% to $134.54, while DocuSign was up nearly 11% to $247 in pre-market trading.

CrowdStrike is scheduled to report its July quarter results on Wednesday, while DocuSign is slated to report its July quarter earnings on Thursday.

In addition, Slack Technologies  (WORK) – Get Report was advancing 6.5% to $34.98, while cloud security Zscaler  (ZS) – Get Report was rising 3.3% to $148.

Jefferies analyst Brent Thill called CrowdStrike “a great company” on Tuesday and “one of the biggest beneficiaries” from work-from-home trends.

Thill, who has a hold rating and $115 price target on the company, said the “only issue” with CrowdStrike is valuation given that the shares are up 152% year-to-date.

The analyst questioned what level of results will be good enough to sustain “such a meteoric stock appreciation.”

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