CrowdStrike (NASDAQ:CRWD) Given New $420.00 Price Target at Needham & Company LLC

CrowdStrike (NASDAQ:CRWD) had its price objective boosted by Needham & Company LLC from $360.00 to $420.00 in a research note issued to investors on Wednesday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also weighed in on CRWD. The Goldman Sachs Group dropped their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, August 15th. KeyCorp lifted their price objective on CrowdStrike from $345.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Wedbush set a $330.00 target price on CrowdStrike in a report on Thursday, October 17th. UBS Group lowered their target price on CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average target price of $355.80.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. The stock has a market capitalization of $85.20 billion, a price-to-earnings ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The business’s fifty day moving average price is $313.47 and its two-hundred day moving average price is $312.77. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. As a group, analysts predict that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Anurag Saha sold 1,683 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the completion of the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at approximately $45,521,111.43. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of large investors have recently added to or reduced their stakes in CRWD. Abich Financial Wealth Management LLC acquired a new position in shares of CrowdStrike during the second quarter worth about $25,000. Oakworth Capital Inc. acquired a new position in CrowdStrike during the 3rd quarter worth approximately $28,000. Tsfg LLC boosted its position in CrowdStrike by 593.3% during the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after acquiring an additional 89 shares during the last quarter. Family Firm Inc. bought a new position in shares of CrowdStrike during the 2nd quarter worth approximately $30,000. Finally, Castleview Partners LLC acquired a new stake in shares of CrowdStrike in the third quarter valued at approximately $32,000. Institutional investors own 71.16% of the company’s stock.

About CrowdStrike

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.