CICC Research Initiates Coverage on CrowdStrike (NASDAQ:CRWD)

Equities researchers at CICC Research started coverage on shares of CrowdStrike (NASDAQ:CRWD) in a report issued on Monday,Benzinga reports. The firm set a “market perform” rating and a $295.00 price target on the stock. CICC Research’s price objective points to a potential downside of 16.50% from the stock’s previous close.

Several other equities analysts also recently weighed in on CRWD. Barclays raised their price target on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a research report on Monday. BMO Capital Markets raised their price target on CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Royal Bank of Canada lowered their price objective on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Morgan Stanley lifted their price objective on CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on CrowdStrike from $435.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has an average rating of “Moderate Buy” and an average target price of $331.90.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $353.29 on Monday. The stock has a fifty day moving average price of $301.83 and a 200 day moving average price of $310.94. The stock has a market cap of $86.60 billion, a PE ratio of 512.01, a P/E/G ratio of 22.77 and a beta of 1.10. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last released its quarterly 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 company 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%. CrowdStrike’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. Sell-side analysts forecast that CrowdStrike will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 120,298 shares in the company, valued at $40,954,251.12. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at $329,172,858.52. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

Several institutional investors and hedge funds have recently bought and sold shares of CRWD. Abich Financial Wealth Management LLC bought a new position in shares of CrowdStrike during the second quarter valued at approximately $25,000. Family Firm Inc. bought a new position in shares of CrowdStrike during the second quarter valued at approximately $30,000. Itau Unibanco Holding S.A. bought a new position in shares of CrowdStrike during the second quarter valued at approximately $33,000. Unique Wealth Strategies LLC bought a new position in shares of CrowdStrike during the second quarter valued at approximately $36,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of CrowdStrike during the second quarter valued at approximately $38,000. Institutional investors and hedge funds 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.