CrowdStrike (NASDAQ:CRWD) Cut to “Hold” at HSBC

CrowdStrike (NASDAQ:CRWD) was downgraded by HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat reports. They currently have a $347.00 target price on the stock. HSBC’s price objective indicates a potential downside of 0.17% from the company’s current price.

Other analysts also recently issued reports about the company. BNP Paribas initiated coverage on CrowdStrike in a research report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 target price on shares of CrowdStrike in a research note on Monday, September 30th. Barclays upped their target price on CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of CrowdStrike in a report on Thursday, September 19th. Finally, Cantor Fitzgerald lifted their target price on CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CrowdStrike presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD opened at $347.59 on Wednesday. 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 current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $85.20 billion, a PE ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The firm has a fifty day moving average price of $314.88 and a 200-day moving average price of $313.01.

CrowdStrike (NASDAQ:CRWD) last released 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 business had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue was up 31.7% compared to the same quarter last year. Equities analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Anurag Saha sold 1,683 shares of CrowdStrike stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the transaction, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. The trade was a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 174,591 shares of the company’s stock, valued at $45,521,111.43. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,248 shares of company stock worth $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Large investors have recently modified their holdings of the stock. Tri Ri Asset Management Corp acquired a new position in CrowdStrike in the 3rd quarter valued at $5,456,000. Peapack Gladstone Financial Corp acquired a new stake in shares of CrowdStrike in the 3rd quarter valued at approximately $497,000. Tidal Investments LLC grew its holdings in CrowdStrike by 7.5% during the third quarter. Tidal Investments LLC now owns 24,813 shares of the company’s stock worth $6,959,000 after acquiring an additional 1,740 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in CrowdStrike in the third quarter valued at $1,319,000. Finally, World Investment Advisors LLC grew its stake in shares of CrowdStrike by 24.7% during the 3rd quarter. World Investment Advisors LLC now owns 2,514 shares of the company’s stock worth $705,000 after purchasing an additional 498 shares during the period. Hedge funds and other 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.