Bank of America Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price target raised by investment analysts at Bank of America from $365.00 to $400.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 15.08% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. UBS Group dropped their price objective on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Rosenblatt Securities boosted their price target on CrowdStrike from $325.00 to $385.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC upped their price target on CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday. Wedbush set a $330.00 price objective on CrowdStrike in a report on Thursday, October 17th. Finally, BMO Capital Markets boosted their price objective on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Stock Performance

CRWD opened at $347.59 on Wednesday. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33. The firm has a market capitalization of $85.20 billion, a P/E ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The stock’s 50 day moving average price is $314.88 and its two-hundred day moving average price is $313.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 4.84% and a return on equity of 8.44%. CrowdStrike’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. On average, equities analysts forecast that CrowdStrike will post 0.49 earnings per share for the current year.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the completion of the sale, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the sale, the insider now owns 120,298 shares in the company, valued at approximately $40,954,251.12. This trade represents a 3.22 % 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 valued at $32,465,110 in the last ninety days. 4.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

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