CrowdStrike (NASDAQ:CRWD) Price Target Raised to $420.00 at Needham & Company LLC

CrowdStrike (NASDAQ:CRWD) had its target price hoisted by investment analysts at Needham & Company LLC from $360.00 to $420.00 in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 20.83% from the company’s previous close.

A number of other brokerages also recently issued reports on CRWD. DA Davidson restated a “buy” rating and issued a $310.00 price target on shares of CrowdStrike in a research report on Wednesday, September 18th. Wedbush set a $330.00 target price on shares of CrowdStrike in a report on Thursday, October 17th. Citigroup lowered their price objective on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada cut their target price on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Evercore ISI lifted their target price on CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Stock Performance

NASDAQ CRWD opened at $347.59 on Wednesday. The company has a market capitalization of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $398.33. The stock has a fifty day simple moving average of $314.88 and a 200 day simple moving average of $313.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up 31.7% compared to the same quarter last year. Sell-side analysts expect that CrowdStrike will post 0.49 EPS for the current year.

Insiders Place Their Bets

In other CrowdStrike news, Director Sameer K. Gandhi sold 5,036 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the sale, the director now directly owns 816,730 shares of the company’s stock, valued at $261,745,630.40. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the transaction, the insider now owns 120,298 shares of the company’s stock, valued at $40,954,251.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,248 shares of company stock valued at $32,465,110 over the last ninety days. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Abich Financial Wealth Management LLC purchased a new stake in shares of CrowdStrike during the second quarter worth $25,000. Oakworth Capital Inc. purchased a new stake in CrowdStrike during the 3rd quarter worth about $28,000. Tsfg LLC boosted its stake in CrowdStrike by 593.3% in the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after purchasing an additional 89 shares during the period. Family Firm Inc. purchased a new position in CrowdStrike during the 2nd quarter valued at about $30,000. Finally, Castleview Partners LLC bought a new stake in shares of CrowdStrike during the third quarter valued at about $32,000. 71.16% of the stock is 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.