CrowdStrike (NASDAQ:CRWD) Price Target Cut to $315.00

CrowdStrike (NASDAQ:CRWD) had its price objective reduced by Robert W. Baird from $335.00 to $315.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on CRWD. Scotiabank decreased their price target on shares of CrowdStrike from $300.00 to $265.00 and set a sector perform rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company decreased their price objective on CrowdStrike from $435.00 to $350.00 and set an overweight rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on CrowdStrike from $350.00 to $275.00 and set a hold rating on the stock in a research note on Monday, August 26th. Needham & Company LLC dropped their target price on shares of CrowdStrike from $425.00 to $375.00 and set a buy rating on the stock in a research report on Tuesday, July 30th. Finally, Westpark Capital reaffirmed a hold rating on shares of CrowdStrike in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $329.47.

CrowdStrike Trading Up 2.1 %

Shares of CRWD stock opened at $277.28 on Thursday. The company has a market cap of $67.48 billion, a P/E ratio of 523.18, a PEG ratio of 13.44 and a beta of 1.10. The stock has a 50 day simple moving average of $301.88 and a two-hundred day simple moving average of $318.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 1.90. CrowdStrike has a fifty-two week low of $145.38 and a fifty-two week high of $398.33.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Research analysts forecast that CrowdStrike will post 0.81 earnings per share for the current year.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $260.00, for a total value of $1,040,000.00. Following the transaction, the insider now directly owns 179,091 shares in the company, valued at approximately $46,563,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Michael Sentonas sold 10,735 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the transaction, the president now directly owns 411,166 shares in the company, valued at approximately $156,502,114.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $260.00, for a total value of $1,040,000.00. Following the transaction, the insider now owns 179,091 shares in the company, valued at $46,563,660. The disclosure for this sale can be found here. Insiders have sold 130,219 shares of company stock worth $48,856,294 in the last ninety days. 4.34% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors have recently modified their holdings of CRWD. Norges Bank bought a new position in shares of CrowdStrike during the 4th quarter valued at about $683,336,000. Pathstone Holdings LLC bought a new position in shares of CrowdStrike during the 4th quarter valued at about $450,418,000. Vanguard Group Inc. increased its position in shares of CrowdStrike by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after purchasing an additional 564,662 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of CrowdStrike by 619.0% during the 1st quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock valued at $177,865,000 after purchasing an additional 477,706 shares during the last quarter. 71.16% of the stock is currently owned by institutional investors.

CrowdStrike Company Profile

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.