Citigroup Initiates Coverage on Crowdstrike (NASDAQ:CRWD)

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Analysts at Citigroup began coverage on shares of Crowdstrike (NASDAQ:CRWD) in a research note issued to investors on Monday, The Fly reports. The brokerage set a “sell” rating and a $43.00 price target on the stock. Citigroup‘s price objective points to a potential downside of 21.96% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on CRWD. CIBC started coverage on shares of Crowdstrike in a research report on Monday, July 8th. They set an “outperform” rating and a $90.00 price target for the company. Robert W. Baird began coverage on shares of Crowdstrike in a research note on Wednesday, September 25th. They issued a “neutral” rating and a $75.00 price objective on the stock. SunTrust Banks upgraded shares of Crowdstrike from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of Crowdstrike from $104.00 to $109.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Jefferies Financial Group upped their target price on shares of Crowdstrike from $71.00 to $80.00 in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Crowdstrike currently has a consensus rating of “Buy” and a consensus target price of $84.60.

NASDAQ:CRWD traded down $5.17 during midday trading on Monday, reaching $55.10. 2,163,160 shares of the stock traded hands, compared to its average volume of 2,842,410. Crowdstrike has a 12-month low of $51.61 and a 12-month high of $101.88. The firm has a 50-day moving average price of $70.91.

Crowdstrike (NASDAQ:CRWD) last posted its earnings results on Thursday, September 5th. The company reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.25. The firm had revenue of $108.10 million for the quarter, compared to analysts’ expectations of $103.79 million. Crowdstrike’s revenue for the quarter was up 94.1% compared to the same quarter last year. On average, equities analysts anticipate that Crowdstrike will post -1.06 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Executive Wealth Management LLC acquired a new stake in shares of Crowdstrike during the 2nd quarter valued at about $34,000. Neuburgh Advisers LLC acquired a new position in Crowdstrike in the second quarter valued at about $46,000. Riverhead Capital Management LLC acquired a new position in Crowdstrike in the second quarter valued at about $55,000. Glen Harbor Capital Management LLC acquired a new position in Crowdstrike in the second quarter valued at about $63,000. Finally, Elkfork Partners LLC acquired a new position in Crowdstrike in the second quarter valued at about $80,000.

Further Reading: What is the formula for the cash asset ratio?

The Fly

Analyst Recommendations for Crowdstrike (NASDAQ:CRWD)

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