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CrowdStrike, Cloudflare and Fortinet see rating cuts at Baird on valuation

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Baird downgraded three cybersecurity and infrastructure software stocks Cloudflare (NYSE:NET), CrowdStrike (NASDAQ:CRWD) and Fortinet (NASDAQ:FTNT) to Neutral from Outperform citing valuation.

Shares of Cloudflare fell about 3%, Crowdstrike declined about 2%, while Fortinet dipped nearly 1% on Monday.

Analysts led

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