CrowdStrike (NASDAQ:CRWD) Shares Up 0.9% on Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s share price rose 0.9% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $325.00 to $375.00. Truist Financial currently has a buy rating on the stock. CrowdStrike traded as high as $346.07 and last traded at $345.91. Approximately 802,160 shares were traded during trading, a decline of 84% from the average daily volume of 4,993,483 shares. The stock had previously closed at $342.97.

A number of other equities research analysts have also recently issued reports on CRWD. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. Royal Bank of Canada reduced their target price on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and set a $310.00 price target on shares of CrowdStrike in a report on Thursday, September 19th. TD Cowen decreased their price target on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, HSBC upgraded shares of CrowdStrike from a “hold” rating to a “buy” rating and raised their price objective for the stock from $302.00 to $339.00 in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-one have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus target price of $331.90.

Insider Activity

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $309.38, for a total value of $1,237,520.00. Following the completion of the sale, the insider now directly owns 124,298 shares in the company, valued at approximately $38,455,315.24. This trade represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,248 shares of company stock valued at $32,465,110. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new stake in shares of CrowdStrike during the second quarter valued at approximately $25,000. Oakworth Capital Inc. acquired a new stake in CrowdStrike in the 3rd quarter valued at $28,000. Tsfg LLC increased its stake in CrowdStrike by 593.3% during the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 89 shares in the last quarter. Family Firm Inc. acquired a new position in CrowdStrike during the second quarter worth $30,000. Finally, Castleview Partners LLC bought a new position in shares of CrowdStrike in the third quarter valued at $32,000. 71.16% of the stock is owned by institutional investors.

CrowdStrike Price Performance

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 business’s fifty day moving average price is $299.72 and its 200-day moving average price is $310.63. The stock has a market capitalization of $84.64 billion, a price-to-earnings ratio of 501.32, a PEG ratio of 22.77 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, research analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current year.

CrowdStrike Company Profile

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.