Zacks Research Upgrades CrowdStrike (NASDAQ:CRWD) to Strong-Buy

CrowdStrike (NASDAQ:CRWD) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

CRWD has been the subject of a number of other research reports. Piper Sandler cut their price objective on shares of CrowdStrike from $505.00 to $450.00 and set a “neutral” rating for the company in a research note on Thursday, August 28th. Stephens raised their price objective on CrowdStrike from $525.00 to $590.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. TD Cowen lifted their price objective on CrowdStrike from $500.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Rosenblatt Securities increased their target price on CrowdStrike from $550.00 to $630.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Finally, JMP Securities raised their price target on CrowdStrike from $500.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and a consensus target price of $543.75.

CrowdStrike Price Performance

Shares of CrowdStrike stock opened at $501.54 on Tuesday. The firm has a market capitalization of $125.87 billion, a PE ratio of -421.46, a price-to-earnings-growth ratio of 120.40 and a beta of 1.16. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.20. CrowdStrike has a 12 month low of $298.00 and a 12 month high of $566.90. The business’s 50-day moving average price is $511.66 and its 200-day moving average price is $476.13.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 27th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.15 billion. CrowdStrike had a negative net margin of 6.84% and a negative return on equity of 1.53%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the business earned $1.04 earnings per share. Sell-side analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO George Kurtz sold 17,830 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $494.53, for a total transaction of $8,817,469.90. Following the completion of the transaction, the chief executive officer owned 2,115,057 shares in the company, valued at $1,045,959,138.21. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $410.32, for a total transaction of $2,564,500.00. Following the completion of the sale, the director owned 768,511 shares in the company, valued at approximately $315,335,433.52. This trade represents a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,622 shares of company stock valued at $58,561,456 over the last three months. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Asset Planning Inc bought a new position in CrowdStrike in the third quarter worth $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in CrowdStrike during the 3rd quarter valued at about $25,000. Anchor Investment Management LLC purchased a new position in CrowdStrike during the 3rd quarter valued at about $25,000. AlphaQuest LLC bought a new stake in CrowdStrike during the second quarter worth about $26,000. Finally, Logan Capital Management Inc. purchased a new stake in CrowdStrike in the third quarter worth about $26,000. 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.