Canaccord Genuity Group Reiterates “Buy” Rating for CrowdStrike (NASDAQ:CRWD)

Canaccord Genuity Group reiterated their buy rating on shares of CrowdStrike (NASDAQ:CRWD) in a research report sent to investors on Monday, Benzinga reports. Canaccord Genuity Group currently has a $405.00 price objective on the stock.

Several other research firms have also issued reports on CRWD. BTIG Research lowered shares of CrowdStrike from a buy rating to a neutral rating in a research report on Monday. Wedbush dropped their price target on shares of CrowdStrike from $390.00 to $385.00 and set an outperform rating for the company in a research report on Wednesday, June 5th. Rosenblatt Securities raised their price objective on shares of CrowdStrike from $415.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, June 5th. DA Davidson dropped their price objective on shares of CrowdStrike from $425.00 to $380.00 and set a buy rating for the company in a report on Wednesday, June 5th. Finally, FBN Securities raised shares of CrowdStrike to a strong-buy rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $359.16.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $254.15 on Monday. CrowdStrike has a 12-month low of $140.52 and a 12-month high of $398.33. 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 firm has a market capitalization of $61.85 billion, a PE ratio of 479.54, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10. The firm has a 50-day moving average price of $355.96 and a 200 day moving average price of $326.03.

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). CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. The business had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. Research analysts anticipate that CrowdStrike will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, CEO George Kurtz sold 56,279 shares of CrowdStrike stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the transaction, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO George Kurtz sold 56,279 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the sale, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Burt W. Podbere sold 15,753 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $305.15, for a total transaction of $4,807,027.95. Following the completion of the sale, the chief financial officer now directly owns 313,994 shares in the company, valued at $95,815,269.10. The disclosure for this sale can be found here. Insiders have sold a total of 219,675 shares of company stock valued at $76,931,522 over the last three months. 4.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in CrowdStrike by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after buying an additional 315,280 shares during the last quarter. Jennison Associates LLC increased its stake in CrowdStrike by 33.2% in the 4th quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after buying an additional 1,581,796 shares during the last quarter. Norges Bank acquired a new stake in CrowdStrike in the 4th quarter valued at $683,336,000. First Trust Advisors LP increased its stake in CrowdStrike by 19.3% in the 4th quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock valued at $565,461,000 after buying an additional 358,945 shares during the last quarter. Finally, Pathstone Holdings LLC acquired a new stake in CrowdStrike in the 4th quarter valued at $450,418,000. 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.