CrowdStrike (NASDAQ:CRWD) Price Target Cut to $380.00

CrowdStrike (NASDAQ:CRWD) had its price objective decreased by analysts at Royal Bank of Canada from $420.00 to $380.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 41.33% from the stock’s previous close.

CRWD has been the subject of several other research reports. Guggenheim downgraded shares of CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday. Piper Sandler lowered their target price on CrowdStrike from $400.00 to $310.00 and set a “neutral” rating on the stock in a research note on Monday. KeyCorp reduced their price target on CrowdStrike from $440.00 to $420.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. BMO Capital Markets lowered their price objective on CrowdStrike from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. Finally, Scotiabank cut shares of CrowdStrike from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $393.00 to $300.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $364.95.

CrowdStrike Stock Up 1.9 %

NASDAQ:CRWD opened at $268.88 on Monday. CrowdStrike has a twelve month low of $140.52 and a twelve month high of $398.33. The firm has a market capitalization of $65.43 billion, a price-to-earnings ratio of 507.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $359.35 and its two-hundred day moving average price is $327.01.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. Equities research analysts expect that CrowdStrike will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the sale, the insider now owns 204,961 shares of the company’s stock, valued at $68,358,592.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,675 shares of company stock valued at $76,931,522. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arlington Financial Advisors LLC lifted its stake in CrowdStrike by 1.5% in the second quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock valued at $778,000 after buying an additional 30 shares during the period. Saturna Capital Corp increased its stake in shares of CrowdStrike by 2.7% in the 1st quarter. Saturna Capital Corp now owns 1,273 shares of the company’s stock valued at $408,000 after acquiring an additional 33 shares in the last quarter. Means Investment CO. Inc. increased its stake in shares of CrowdStrike by 1.8% in the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after acquiring an additional 35 shares in the last quarter. Shepherd Financial Partners LLC lifted its position in shares of CrowdStrike by 1.4% during the 4th quarter. Shepherd Financial Partners LLC now owns 2,528 shares of the company’s stock valued at $645,000 after acquiring an additional 36 shares during the period. Finally, Cigna Investments Inc. New boosted its stake in CrowdStrike by 1.7% during the fourth quarter. Cigna Investments Inc. New now owns 2,319 shares of the company’s stock worth $592,000 after acquiring an additional 38 shares in the last quarter. 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.