Crowdstrike (NASDAQ:CRWD) Lifted to Buy at DA Davidson

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DA Davidson upgraded shares of Crowdstrike (NASDAQ:CRWD) from a neutral rating to a buy rating in a report issued on Tuesday morning, BenzingaRatingsTable reports. DA Davidson currently has $75.00 price objective on the stock, up from their prior price objective of $58.00.

A number of other analysts have also recently weighed in on CRWD. Jefferies Financial Group lowered their price target on shares of Crowdstrike from $67.00 to $61.00 and set a hold rating on the stock in a report on Friday, December 6th. Citigroup started coverage on shares of Crowdstrike in a report on Monday, October 14th. They issued a sell rating and a $43.00 price target on the stock. Robert W. Baird lowered their price target on shares of Crowdstrike from $75.00 to $65.00 and set a neutral rating on the stock in a report on Monday, December 2nd. Credit Suisse Group raised their price target on shares of Crowdstrike from $60.00 to $75.00 and gave the company a neutral rating in a report on Friday, December 6th. Finally, Zacks Investment Research cut shares of Crowdstrike from a buy rating to a hold rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Crowdstrike presently has an average rating of Buy and an average price target of $79.09.

NASDAQ:CRWD opened at $64.85 on Tuesday. Crowdstrike has a fifty-two week low of $44.58 and a fifty-two week high of $101.88. The company’s 50-day simple moving average is $58.32 and its 200-day simple moving average is $63.38.

Crowdstrike (NASDAQ:CRWD) last released its quarterly earnings results on Thursday, December 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The firm had revenue of $125.10 million during the quarter, compared to the consensus estimate of $118.79 million. The business’s quarterly revenue was up 88.4% on a year-over-year basis. As a group, equities research analysts forecast that Crowdstrike will post -1.03 EPS for the current year.

In related news, CFO Burt W. Podbere sold 60,000 shares of Crowdstrike stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $65.41, for a total value of $3,924,600.00. Following the completion of the sale, the chief financial officer now directly owns 67,698 shares in the company, valued at approximately $4,428,126.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurtz sold 138,820 shares of Crowdstrike stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $62.73, for a total transaction of $8,708,178.60. The disclosure for this sale can be found here. Insiders sold a total of 8,251,745 shares of company stock valued at $430,850,775 over the last quarter.

A number of hedge funds have recently added to or reduced their stakes in CRWD. Point72 Asset Management L.P. boosted its stake in Crowdstrike by 1,390.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,746,109 shares of the company’s stock worth $87,078,000 after purchasing an additional 1,628,963 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in Crowdstrike by 2,058.5% in the 4th quarter. Marshall Wace North America L.P. now owns 1,458,631 shares of the company’s stock worth $72,741,000 after purchasing an additional 1,391,054 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its stake in Crowdstrike by 155.3% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,050,104 shares of the company’s stock worth $119,542,000 after purchasing an additional 1,247,169 shares in the last quarter. Alyeska Investment Group L.P. raised its position in Crowdstrike by 2,550.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 927,712 shares of the company’s stock worth $46,265,000 after buying an additional 892,712 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Crowdstrike during the 4th quarter worth approximately $41,431,000. Institutional investors own 35.41% of the company’s stock.

Read More: Sell-Side Analysts

Analyst Recommendations for Crowdstrike (NASDAQ:CRWD)

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