CrowdStrike (NASDAQ:CRWD) Trading 3.3% Higher Following Analyst Upgrade

CrowdStrike (NASDAQ:CRWD)’s stock price rose 3.3% on Monday after DA Davidson raised their price target on the stock from $515.00 to $580.00. DA Davidson currently has a buy rating on the stock. CrowdStrike traded as high as $509.19 and last traded at $506.82. Approximately 2,612,189 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 3,446,672 shares. The stock had previously closed at $490.67.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald raised their price target on CrowdStrike from $500.00 to $590.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Piper Sandler cut their target price on shares of CrowdStrike from $505.00 to $450.00 and set a “neutral” rating on the stock in a report on Thursday, August 28th. Canaccord Genuity Group lifted their target price on shares of CrowdStrike from $430.00 to $500.00 and gave the stock a “hold” rating in a research note on Monday, September 22nd. Roth Capital reiterated a “buy” rating and set a $510.00 price target (up from $410.00) on shares of CrowdStrike in a report on Thursday, September 18th. Finally, Sanford C. Bernstein dropped their price target on shares of CrowdStrike from $371.00 to $343.00 and set a “market perform” rating for the company in a research report on Thursday, August 28th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $539.38.

Insider Activity at CrowdStrike

In other news, President Michael Sentonas sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the completion of the transaction, the president owned 379,116 shares of the company’s stock, valued at approximately $189,558,000. This represents a 5.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Kurtz sold 17,830 shares of CrowdStrike stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $494.53, for a total value of $8,817,469.90. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 116,622 shares of company stock worth $58,561,456 over the last ninety days. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CRWD. Asset Planning Inc bought a new position in shares of CrowdStrike during the third quarter valued at $25,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of CrowdStrike in the third quarter worth approximately $25,000. Anchor Investment Management LLC purchased a new stake in CrowdStrike during the 3rd quarter valued at $25,000. AlphaQuest LLC purchased a new stake in CrowdStrike during the second quarter valued at $26,000. Finally, Logan Capital Management Inc. purchased a new stake in shares of CrowdStrike during the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Stock Performance

The business’s fifty day moving average is $511.66 and its 200-day moving average is $476.13. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $125.87 billion, a PE ratio of -421.46, a P/E/G ratio of 120.40 and a beta of 1.16.

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

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.