CrowdStrike (NASDAQ:CRWD) Price Target Cut to $345.00

CrowdStrike (NASDAQ:CRWD) had its target price trimmed by Citigroup from $425.00 to $345.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

CRWD has been the topic of a number of other research reports. Mizuho reduced their target price on CrowdStrike from $390.00 to $370.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Canaccord Genuity Group reaffirmed a buy rating and issued a $405.00 price objective on shares of CrowdStrike in a research note on Monday, July 22nd. Scotiabank downgraded CrowdStrike from a sector outperform rating to a sector perform rating and lowered their target price for the stock from $393.00 to $300.00 in a research note on Monday, July 22nd. Royal Bank of Canada dropped their target price on shares of CrowdStrike from $420.00 to $380.00 and set an outperform rating for the company in a report on Monday, July 22nd. Finally, Morgan Stanley decreased their price target on shares of CrowdStrike from $422.00 to $396.00 and set an overweight rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $359.16.

CrowdStrike Stock Up 0.8 %

CRWD stock opened at $256.16 on Wednesday. CrowdStrike has a 52 week low of $140.52 and a 52 week high of $398.33. The business has a 50-day simple moving average of $354.16 and a 200 day simple moving average of $326.36. 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 company has a market cap of $62.34 billion, a PE ratio of 483.33, a price-to-earnings-growth ratio of 13.09 and a beta of 1.10.

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

Insiders Place Their Bets

In other CrowdStrike news, CFO Burt W. Podbere sold 15,753 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $305.15, for a total value of $4,807,027.95. Following the transaction, the chief financial officer now directly owns 313,994 shares of the company’s stock, valued at $95,815,269.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, President Michael Sentonas sold 10,735 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $4,086,063.05. Following the completion of the sale, the president now directly owns 411,166 shares of the company’s stock, valued at approximately $156,502,114.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Burt W. Podbere sold 15,753 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $305.15, for a total value of $4,807,027.95. Following the completion of the transaction, the chief financial officer now owns 313,994 shares in the company, valued at approximately $95,815,269.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,675 shares of company stock worth $76,931,522. 4.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Vanguard Group Inc. grew its position 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 purchasing an additional 315,280 shares during the period. Jennison Associates LLC grew its holdings in shares of CrowdStrike by 33.2% during the fourth 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 bought a new stake in shares of CrowdStrike during the fourth quarter worth about $683,336,000. First Trust Advisors LP raised its holdings in shares of CrowdStrike by 19.3% in the 4th quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock worth $565,461,000 after acquiring an additional 358,945 shares during the last quarter. Finally, Pathstone Holdings LLC bought a new position in CrowdStrike in the 4th quarter valued at about $450,418,000. Institutional investors own 71.16% of the company’s stock.

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.