CrowdStrike Holdings stock should benefit from a likely boom in interest in its cybersecurity services as Anthropic’s Project Glasswing continues to shine a spotlight on emerging threats tied to the proliferation of artificial intelligence, according to Mizuho. The bank upgraded the cybersecurity stock to outperform from neutral. It also hiked its price target on shares to $520 from $490, implying 16% upside from Friday’s close. CrowdStrike “arguably has the strongest set of offerings in the [cybersecurity] space,” analyst Gregg Moskowitz said Monday in a note to clients. “Furthermore, we see a legitimate possibility that Project Glasswing will catalyze good incremental business activity for CRWD over time.” Earlier this month, Anthropic introduced Project Glasswing , an initiative aimed at identifying solutions for emerging security threats in the age of AI. A group of more than 40 technology companies , including CrowdStrike, will use the recently launched Claude Mythos Preview to identify and eliminate vulnerabilities in critical digital infrastructure. The initiative has called attention to the need to adopt sophisticated security solutions to tackle AI-enabled cyberattacks — a trend that is poised to boost shares of CrowdStrike, according to Mizuho. “Initially, the only two pure-play cybersecurity vendors named were CRWD and PANW , a true testament to both platforms and one that should minimally result in targeted marketing programs,” Moskowitz wrote. “We see a legitimate possibility that Project Glasswing will catalyze good incremental business activity for CRWD going forward.” Since the debut of Project Glasswing, CrowdStrike stock has climbed more than 12%. However, the stock has risen just 5% over the past year, underperforming the overall market. CRWD 1Y mountain CrowdStrike is up roughly 5% over the past 12 months. “CRWD is very well positioned to capitalize on AI security, which offers intriguing growth opportunities,” Moskowitz wrote. Mizuho’s call falls in line with consensus on the Street. Of the 56 analysts covering CrowdStrike, 43 have a buy or strong buy on shares, LSEG data shows. Over the past few weeks, CrowdStrike has also received upgrades from Key Banc and Wolfe Research.
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