CrowdStrike (NASDAQ:CRWD) Price Target Raised to $510.00

CrowdStrike (NASDAQ:CRWD) had its target price boosted by Royal Bank of Canada from $500.00 to $510.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on CRWD. Jefferies Financial Group restated a “buy” rating on shares of CrowdStrike in a report on Wednesday, May 7th. DA Davidson lifted their target price on shares of CrowdStrike from $395.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Truist Financial dropped their target price on shares of CrowdStrike from $460.00 to $450.00 and set a “buy” rating for the company in a report on Monday, March 31st. BMO Capital Markets lifted their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Guggenheim reiterated a “neutral” rating on shares of CrowdStrike in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have issued a buy rating to the company. Based on data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average target price of $450.43.

CrowdStrike Stock Up 1.2%

CRWD opened at $468.41 on Wednesday. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $491.20. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $415.18 and a 200 day moving average price of $388.02. The company has a market cap of $116.11 billion, a PE ratio of 918.47, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. CrowdStrike’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Sell-side analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In other news, CAO Anurag Saha sold 1,496 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the transaction, the chief accounting officer now directly owns 36,165 shares in the company, valued at $12,969,492.30. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $353.00, for a total transaction of $1,588,500.00. Following the transaction, the insider now owns 89,714 shares in the company, valued at approximately $31,669,042. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock worth $87,081,236 in the last quarter. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike during the first quarter worth about $25,000. Atlantic Edge Private Wealth Management LLC grew its position in CrowdStrike by 114.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 40 shares during the period. Vision Financial Markets LLC acquired a new position in CrowdStrike during the first quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Finally, FPC Investment Advisory Inc. grew its position in CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after buying an additional 73 shares during the period. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.