Needham & Company LLC Reaffirms “Buy” Rating for CrowdStrike (NASDAQ:CRWD)

Needham & Company LLC reiterated their buy rating on shares of CrowdStrike (NASDAQ:CRWD) in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $350.00 price objective on the stock.

Several other research analysts have also recently commented on the company. HSBC raised CrowdStrike from a hold rating to a buy rating and increased their price target for the company from $302.00 to $339.00 in a research report on Friday, August 30th. Westpark Capital reissued a hold rating on shares of CrowdStrike in a report on Thursday, August 29th. Raymond James lowered their target price on shares of CrowdStrike from $380.00 to $275.00 and set an outperform rating on the stock in a report on Thursday, August 29th. Mizuho cut their price target on shares of CrowdStrike from $390.00 to $370.00 and set a buy rating for the company in a research note on Wednesday, June 5th. Finally, BMO Capital Markets boosted their price objective on shares of CrowdStrike from $290.00 to $315.00 and gave the stock an outperform rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned 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 company presently has a consensus rating of Moderate Buy and an average target price of $327.16.

CrowdStrike Price Performance

Shares of CRWD opened at $246.58 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike has a twelve month low of $157.59 and a twelve month high of $398.33. The stock has a market capitalization of $60.01 billion, a P/E ratio of 465.25, a P/E/G ratio of 15.68 and a beta of 1.09. The company has a 50 day moving average of $286.77 and a 200-day moving average of $315.49.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The business had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts forecast that CrowdStrike will post 0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other CrowdStrike news, CAO Anurag Saha sold 1,662 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 transaction of $632,607.06. Following the completion of the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $632,607.06. Following the sale, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the completion of the transaction, the insider now directly owns 183,091 shares of the company’s stock, valued at approximately $67,985,350.12. The disclosure for this sale can be found here. Insiders sold a total of 130,219 shares of company stock worth $48,856,294 in the last ninety days. 4.34% of the stock is owned by insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently bought and sold shares of CRWD. Abich Financial Wealth Management LLC acquired a new stake in shares of CrowdStrike during the second quarter valued at about $25,000. Trivant Custom Portfolio Group LLC bought a new stake in CrowdStrike during the 1st quarter worth approximately $30,000. Family Firm Inc. acquired a new position in CrowdStrike in the 2nd quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new position in CrowdStrike in the 4th quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in shares of CrowdStrike during the fourth quarter worth $32,000. 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.