CrowdStrike (NASDAQ:CRWD) Price Target Cut to $265.00 by Analysts at Scotiabank

CrowdStrike (NASDAQ:CRWD) had its price target lowered by stock analysts at Scotiabank from $300.00 to $265.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 4.33% from the stock’s previous close.

CRWD has been the subject of a number of other research reports. Evercore ISI dropped their price target on CrowdStrike from $350.00 to $325.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Citigroup dropped their price target on CrowdStrike from $425.00 to $345.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus dropped their price target on CrowdStrike from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada dropped their price target on CrowdStrike from $420.00 to $380.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $345.32.

CrowdStrike Stock Performance

CRWD stock traded up $5.88 during trading hours on Wednesday, hitting $253.99. 848,313 shares of the stock were exchanged, compared to its average volume of 5,404,093. The company has a 50-day simple moving average of $329.98 and a two-hundred day simple moving average of $322.11. The firm has a market capitalization of $61.81 billion, a P/E ratio of 479.23, a P/E/G ratio of 11.79 and a beta of 1.10. CrowdStrike has a 12 month low of $140.52 and a 12 month high of $398.33. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results 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). The business had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. On average, analysts forecast that CrowdStrike will post 0.87 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $382.93, for a total transaction of $1,723,185.00. Following the sale, the insider now directly owns 200,672 shares in the company, valued at $76,843,328.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction on 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 in the company, valued at $15,470,706.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction on Monday, June 17th. The shares were 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 of the company’s stock, valued at approximately $76,843,328.96. The disclosure for this sale can be found here. Insiders have sold 131,643 shares of company stock worth $49,709,324 over the last ninety days. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC purchased a new position in shares of CrowdStrike in the fourth quarter worth $26,000. Trivant Custom Portfolio Group LLC bought a new stake in CrowdStrike during the first quarter valued at about $30,000. Family Firm Inc. bought a new position in shares of CrowdStrike in the second quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in shares of CrowdStrike in the fourth quarter worth about $31,000. Finally, Northwest Bank & Trust Co bought a new position in shares of CrowdStrike in the fourth quarter worth about $32,000. 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.