Wedbush Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $315.00

CrowdStrike (NASDAQ:CRWD) had its target price cut by Wedbush from $385.00 to $315.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on CRWD. Rosenblatt Securities dropped their price objective on shares of CrowdStrike from $420.00 to $350.00 and set a buy rating on the stock in a report on Wednesday. Mizuho dropped their price target on CrowdStrike from $390.00 to $370.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Truist Financial reduced their price objective on CrowdStrike from $400.00 to $325.00 and set a buy rating for the company in a research note on Tuesday, July 23rd. DA Davidson dropped their target price on CrowdStrike from $425.00 to $380.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Finally, Canaccord Genuity Group reissued a buy rating and set a $405.00 price target on shares of CrowdStrike in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $359.16.

CrowdStrike Trading Up 0.8 %

CrowdStrike stock opened at $256.16 on Wednesday. CrowdStrike has a one year low of $140.52 and a one year high of $398.33. The stock has a market cap of $62.34 billion, a PE ratio of 483.33, a price-to-earnings-growth ratio of 13.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80. The stock has a 50-day moving average of $354.16 and a two-hundred day moving average of $326.36.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $921.04 million during the quarter, compared to analysts’ expectations of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. On average, research analysts anticipate that CrowdStrike will post 0.9 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In other CrowdStrike news, President Michael Sentonas sold 10,735 shares of CrowdStrike stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the sale, the president now owns 411,166 shares of the company’s stock, valued at approximately $156,502,114.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Michael Sentonas sold 10,735 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $4,086,063.05. Following the transaction, the president now directly owns 411,166 shares of the company’s stock, valued at $156,502,114.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the sale, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,675 shares of company stock valued at $76,931,522. 4.34% of the stock is owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC purchased a new position in shares of CrowdStrike during the 4th quarter worth $26,000. Hexagon Capital Partners LLC purchased a new position in CrowdStrike during the fourth quarter worth about $26,000. Bear Mountain Capital Inc. acquired a new position in CrowdStrike in the 4th quarter valued at about $27,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of CrowdStrike in the 1st quarter valued at approximately $30,000. Finally, Family Firm Inc. acquired a new stake in shares of CrowdStrike during the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.