Canaccord Genuity Group Reiterates “Buy” Rating for CrowdStrike (NASDAQ:CRWD)

Canaccord Genuity Group reiterated their buy rating on shares of CrowdStrike (NASDAQ:CRWD) in a research note released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a $405.00 target price on the stock.

CRWD has been the subject of a number of other research reports. Needham & Company LLC reissued a buy rating and set a $425.00 target price on shares of CrowdStrike in a research note on Wednesday, June 5th. Evercore ISI reduced their price target on shares of CrowdStrike from $405.00 to $350.00 and set an outperform rating for the company in a report on Friday, July 19th. Piper Sandler reduced their price target on shares of CrowdStrike from $400.00 to $310.00 and set a neutral rating for the company in a report on Monday. Morgan Stanley raised their price target on shares of CrowdStrike from $372.00 to $422.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. Finally, Rosenblatt Securities raised their price target on shares of CrowdStrike from $415.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CrowdStrike currently has a consensus rating of Moderate Buy and a consensus price target of $359.16.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $254.15 on Monday. CrowdStrike has a twelve month low of $140.52 and a twelve month high of $398.33. The firm has a fifty day simple moving average of $355.96 and a 200 day simple moving average of $326.03. The company has a market capitalization of $61.85 billion, a PE ratio of 479.54, a P/E/G ratio of 13.55 and a beta of 1.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.01). CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. The firm had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. On average, sell-side analysts forecast that CrowdStrike will post 0.9 EPS for the current year.

Insider Activity

In related news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the completion of the transaction, the insider now owns 204,961 shares of the company’s stock, valued at $68,358,592.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the transaction, the insider now directly owns 204,961 shares of the company’s stock, valued at approximately $68,358,592.72. The disclosure for this sale can be found here. Insiders have sold a total of 219,675 shares of company stock valued at $76,931,522 over the last quarter. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds have recently bought and sold shares of the company. Rational Advisors LLC purchased a new position in CrowdStrike in the 2nd quarter worth approximately $574,000. Bailard Inc. grew its stake in CrowdStrike by 4.6% in the 2nd quarter. Bailard Inc. now owns 19,762 shares of the company’s stock worth $7,573,000 after buying an additional 870 shares in the last quarter. Paulson Wealth Management Inc. purchased a new position in CrowdStrike in the 2nd quarter worth approximately $246,000. AlphaCentric Advisors LLC purchased a new position in CrowdStrike in the 2nd quarter worth approximately $39,000. Finally, Bank of New York Mellon Corp grew its stake in CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.