Why CrowdStrike Fell Today on an Up Day for the Nasdaq

Shares of CrowdStrike (NASDAQ: CRWD) fell in today's trading, down as much as 4.8% before recovering to a 3.7% decline as of the end of trading, even as the broader Nasdaq finished strongly, up 0.8%. It wasn't too difficult to figure out why, as a major Wall Street sell-side analyst downgraded CrowdStrike's shares and lowered its price target ahead of the company's earnings report on Wednesday. Before today's open, research firm Morgan Stanley downgraded its rating on CrowdStrike from overweight to equal weight, while lowering its price target on the stock from $178 to $167.