CrowdStrike (NASDAQ:CRWD) Trading Down 0.3% After Analyst Downgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares fell 0.3% during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $400.00 to $300.00. Stifel Nicolaus currently has a buy rating on the stock. CrowdStrike traded as low as $235.68 and last traded at $240.15. 1,326,799 shares were traded during mid-day trading, a decline of 76% from the average session volume of 5,419,876 shares. The stock had previously closed at $240.90.

Several other research firms have also recently weighed in on CRWD. BTIG Research cut shares of CrowdStrike from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Evercore ISI reduced their price target on shares of CrowdStrike from $350.00 to $325.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Redburn Atlantic downgraded shares of CrowdStrike from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $380.00 to $275.00 in a research report on Thursday, July 18th. Citigroup reduced their target price on CrowdStrike from $425.00 to $345.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Oppenheimer lifted their price target on CrowdStrike from $355.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus price target of $348.61.

Insider Activity at CrowdStrike

In related news, CFO Burt W. Podbere sold 12,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $329.10, for a total transaction of $3,949,200.00. Following the transaction, the chief financial officer now directly owns 308,593 shares in the company, valued at $101,557,956.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Burt W. Podbere sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $329.10, for a total value of $3,949,200.00. Following the completion of the transaction, the chief financial officer now owns 308,593 shares in the company, valued at approximately $101,557,956.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,643 shares of company stock valued at $54,992,604. 4.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Large investors have recently modified their holdings of the business. Family Firm Inc. bought a new stake in shares of CrowdStrike during the 2nd quarter valued at $30,000. Unique Wealth Strategies LLC purchased a new position in CrowdStrike during the 2nd quarter valued at about $36,000. Trivant Custom Portfolio Group LLC bought a new stake in shares of CrowdStrike during the first quarter valued at about $30,000. Hobbs Group Advisors LLC purchased a new stake in shares of CrowdStrike in the second quarter worth about $38,000. Finally, Hexagon Capital Partners LLC bought a new position in shares of CrowdStrike in the fourth quarter valued at approximately $26,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

The business’s 50-day moving average price is $332.51 and its 200 day moving average price is $322.79. 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 capitalization of $58.44 billion, a P/E ratio of 453.11, a price-to-earnings-growth ratio of 11.79 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $904.82 million. Analysts anticipate that CrowdStrike Holdings, Inc. will post 0.87 EPS for the current fiscal year.

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.