CrowdStrike (NASDAQ:CRWD) Price Target Cut to $335.00

CrowdStrike (NASDAQ:CRWD) had its target price reduced by Royal Bank of Canada from $345.00 to $335.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on CRWD. Oppenheimer lowered their price target on CrowdStrike from $450.00 to $365.00 and set an outperform rating for the company in a report on Thursday. Guggenheim cut CrowdStrike from a buy rating to a neutral rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on CrowdStrike from $350.00 to $275.00 and set a hold rating for the company in a report on Monday, August 26th. DA Davidson reduced their price objective on CrowdStrike from $380.00 to $290.00 and set a buy rating on the stock in a research report on Wednesday, August 14th. Finally, Redburn Atlantic lowered CrowdStrike from a neutral rating to a sell rating and reduced their price objective for the stock from $380.00 to $275.00 in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $329.47.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $277.28 on Thursday. The stock has a market capitalization of $67.48 billion, a PE ratio of 523.18, a P/E/G ratio of 13.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.80. The business has a fifty day moving average price of $301.88 and a two-hundred day moving average price of $318.05. CrowdStrike has a fifty-two week low of $145.38 and a fifty-two week high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same quarter in the previous year, the firm earned $0.06 EPS. CrowdStrike’s revenue was up 31.7% on a year-over-year basis. As a group, equities analysts predict that CrowdStrike will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $382.93, for a total value of $1,723,185.00. Following the transaction, the insider now owns 200,672 shares in the company, valued at $76,843,328.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $382.93, for a total value of $1,723,185.00. Following the transaction, the insider now owns 200,672 shares in the company, valued at $76,843,328.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 55,587 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $376.45, for a total value of $20,925,726.15. Following the completion of the transaction, the chief executive officer now owns 1,127,843 shares in the company, valued at approximately $424,576,497.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,219 shares of company stock worth $48,856,294. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Burney Co. bought a new position in shares of CrowdStrike in the first quarter valued at approximately $1,342,000. Los Angeles Capital Management LLC lifted its holdings in shares of CrowdStrike by 5,210.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 124,590 shares of the company’s stock valued at $31,810,000 after purchasing an additional 122,244 shares in the last quarter. BNP Paribas bought a new position in shares of CrowdStrike in the first quarter valued at approximately $2,685,000. Principal Financial Group Inc. lifted its holdings in shares of CrowdStrike by 429.2% in the second quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock valued at $114,360,000 after purchasing an additional 242,052 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of CrowdStrike in the first quarter valued at approximately $73,972,000. 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.