CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Piper Sandler Analyst Says

CrowdStrike (NASDAQ:CRWD) had its price objective upped by Piper Sandler from $290.00 to $375.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on CRWD. Bank of America increased their price target on shares of CrowdStrike from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer reduced their price target on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Rosenblatt Securities increased their price objective on CrowdStrike from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Citigroup boosted their target price on CrowdStrike from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Hsbc Global Res upgraded shares of CrowdStrike from a “hold” rating to a “strong-buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Stock Down 0.5 %

Shares of NASDAQ:CRWD opened at $345.97 on Wednesday. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33. The company has a current ratio of 1.86, a quick ratio of 1.90 and a debt-to-equity ratio of 0.24. The stock’s 50-day moving average price is $315.80 and its 200-day moving average price is $313.20. The stock has a market capitalization of $84.81 billion, a P/E ratio of 678.39, a price-to-earnings-growth ratio of 25.16 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The firm had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. On average, equities analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current year.

Insider Activity at CrowdStrike

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

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Jennison Associates LLC raised its position in shares of CrowdStrike by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares during the period. International Assets Investment Management LLC raised its stake in CrowdStrike by 17,926.3% during the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock valued at $259,668,000 after purchasing an additional 920,695 shares during the period. Daiwa Securities Group Inc. boosted its stake in CrowdStrike by 1,655.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares during the period. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after acquiring an additional 371,695 shares during the last quarter. 71.16% of the stock is owned by hedge funds and other 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.