Needham & Company LLC Issues Positive Forecast for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its target price upped by Needham & Company LLC from $360.00 to $420.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price target on shares of CrowdStrike in a research note on Monday, September 30th. Evercore ISI raised their target price on CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Citigroup cut their price target on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. KeyCorp raised their price objective on shares of CrowdStrike from $345.00 to $395.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their target price on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Stock Down 0.5 %

Shares of CRWD opened at $345.97 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $315.80 and a two-hundred day simple moving average of $313.20. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $398.33. The company has a market capitalization of $84.81 billion, a PE ratio of 678.39, a price-to-earnings-growth ratio of 25.16 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last released 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. The business had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, equities analysts forecast that CrowdStrike will post 0.49 EPS for the current year.

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $340.44, for a total value of $1,361,760.00. Following the completion of the sale, the insider now owns 120,298 shares in the company, valued at $40,954,251.12. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock worth $32,465,110 over the last 90 days. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several institutional investors have recently modified their holdings of CRWD. Jennison Associates LLC raised its holdings in CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of CrowdStrike by 17,926.3% during the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after buying an additional 920,695 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of CrowdStrike by 1,655.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after buying an additional 712,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in CrowdStrike by 248.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after acquiring an additional 371,695 shares in the last quarter. Hedge funds and other 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.