CrowdStrike (NASDAQ:CRWD) Price Target Raised to $390.00

CrowdStrike (NASDAQ:CRWD) had its target price hoisted by Robert W. Baird from $375.00 to $390.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on CRWD. Morgan Stanley raised their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Westpark Capital restated a “hold” rating on shares of CrowdStrike in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price target on shares of CrowdStrike in a report on Monday, September 30th. Bank of America raised their price target on CrowdStrike from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $290.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Stock Performance

CRWD stock opened at $347.59 on Wednesday. The stock’s 50 day simple moving average is $313.47 and its 200 day simple moving average is $312.77. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33. The stock has a market capitalization of $85.20 billion, a PE ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same period in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, research analysts forecast that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In related news, Director Sameer K. Gandhi sold 5,036 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the sale, the director now owns 816,730 shares in the company, valued at approximately $261,745,630.40. This represents a 0.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the sale, the insider now owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,248 shares of company stock valued at $32,465,110. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several institutional investors have recently made changes to their positions in CRWD. Tri Ri Asset Management Corp bought a new position in CrowdStrike during the 3rd quarter valued at about $5,456,000. Peapack Gladstone Financial Corp bought a new position in shares of CrowdStrike during the third quarter valued at approximately $497,000. Tidal Investments LLC raised its holdings in shares of CrowdStrike by 7.5% in the third quarter. Tidal Investments LLC now owns 24,813 shares of the company’s stock worth $6,959,000 after buying an additional 1,740 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of CrowdStrike during the 3rd quarter worth approximately $1,319,000. Finally, World Investment Advisors LLC boosted its holdings in CrowdStrike by 24.7% during the 3rd quarter. World Investment Advisors LLC now owns 2,514 shares of the company’s stock valued at $705,000 after acquiring an additional 498 shares during the period. 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.