Sanford C. Bernstein Lowers CrowdStrike (NASDAQ:CRWD) Price Target to $327.00

CrowdStrike (NASDAQ:CRWD) had its price objective reduced by equities research analysts at Sanford C. Bernstein from $334.00 to $327.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price points to a potential upside of 26.10% from the stock’s current price.

Several other research firms also recently commented on CRWD. TD Cowen lowered their target price on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Citigroup dropped their price objective on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Scotiabank decreased their target price on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $302.00 to $339.00 in a research note on Friday, August 30th. Finally, UBS Group lowered their target price on CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus target price of $329.79.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD opened at $259.32 on Thursday. The firm’s 50 day simple moving average is $295.04 and its two-hundred day simple moving average is $316.82. 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 company has a market capitalization of $63.11 billion, a P/E ratio of 489.28, a P/E/G ratio of 13.44 and a beta of 1.09. CrowdStrike has a 1-year low of $157.59 and a 1-year high of $398.33.

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

Insider Transactions at CrowdStrike

In other news, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 200,672 shares of the company’s stock, valued at approximately $76,843,328.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CrowdStrike news, Director Sameer K. Gandhi sold 15,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $380.21, for a total value of $5,703,150.00. Following the completion of the transaction, the director now owns 824,234 shares of the company’s stock, valued at $313,382,009.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Shawn Henry sold 4,500 shares of the company’s 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 completion of the transaction, the insider now directly owns 200,672 shares in the company, valued at $76,843,328.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,219 shares of company stock valued at $48,856,294. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CRWD. NCP Inc. purchased a new position in CrowdStrike during the 2nd quarter worth approximately $115,000. Gordian Capital Singapore Pte Ltd grew its position in CrowdStrike by 15.8% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 586 shares of the company’s stock worth $225,000 after purchasing an additional 80 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of CrowdStrike during the 2nd quarter valued at about $38,000. New Wave Wealth Advisors LLC acquired a new position in shares of CrowdStrike in the 2nd quarter valued at about $325,000. Finally, Granite Bay Wealth Management LLC acquired a new stake in CrowdStrike during the second quarter worth about $5,045,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.