Royal Bank of Canada Has Lowered Expectations for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its target price reduced by Royal Bank of Canada from $370.00 to $365.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 5.01% from the stock’s current price.

CRWD has been the topic of a number of other reports. Morgan Stanley upped their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of CrowdStrike in a report on Monday, September 30th. Barclays lifted their price target on CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. TD Cowen dropped their price objective on CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, BNP Paribas started coverage on CrowdStrike in a report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 target price for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $355.80.

CrowdStrike Stock Performance

Shares of CRWD opened at $347.59 on Wednesday. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s fifty day moving average price is $314.88 and its two-hundred day moving average price is $313.01. The firm has a market cap of $85.20 billion, a PE ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10.

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, beating analysts’ consensus estimates of $0.97 by $0.07. The business had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. On average, equities research analysts forecast that CrowdStrike will post 0.49 EPS for the current year.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the transaction, the insider now directly owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the sale, the president now directly owns 400,390 shares of the company’s stock, valued at approximately $119,027,939.20. This represents a 2.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors have recently bought and sold shares of CRWD. State Street Corp raised its position in shares of CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after acquiring an additional 275,717 shares in the last quarter. Jennison Associates LLC raised its holdings in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC lifted its position in CrowdStrike by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after buying an additional 97,990 shares during the period. Legal & General Group Plc boosted its holdings in shares of CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after buying an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of CrowdStrike by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares during the period. 71.16% of the stock is owned by institutional investors.

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.