CrowdStrike’s (CRWD) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CrowdStrike (NASDAQ:CRWD) in a research note released on Friday morning, Benzinga reports. They currently have a $350.00 price target on the stock.

Several other analysts also recently weighed in on the company. KeyCorp decreased their target price on CrowdStrike from $440.00 to $420.00 and set an overweight rating for the company in a research note on Wednesday, July 17th. The Goldman Sachs Group lowered their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a buy rating on the stock in a research note on Thursday, August 15th. Cantor Fitzgerald cut their target price on shares of CrowdStrike from $400.00 to $350.00 and set an overweight rating for the company in a research note on Thursday, August 29th. Redburn Atlantic downgraded shares of CrowdStrike from a neutral rating to a sell rating and dropped their price objective for the stock from $380.00 to $275.00 in a report on Thursday, July 18th. Finally, Wedbush reiterated an outperform rating and issued a $315.00 target price on shares of CrowdStrike in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $327.16.

CrowdStrike Stock Up 0.1 %

Shares of CRWD stock opened at $246.58 on Friday. The stock’s 50 day simple moving average is $286.77 and its 200 day simple moving average is $315.49. CrowdStrike has a twelve month low of $157.59 and a twelve month high of $398.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $60.01 billion, a price-to-earnings ratio of 465.25, a PEG ratio of 15.68 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The company had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. As a group, research analysts predict that CrowdStrike will post 0.56 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 10,735 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the completion of the sale, the president now owns 411,166 shares in the company, valued at $156,502,114.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $382.93, for a total value of $1,723,185.00. Following the transaction, the insider now owns 200,672 shares of the company’s stock, valued at $76,843,328.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Michael Sentonas sold 10,735 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the transaction, the president now directly owns 411,166 shares in the company, valued at approximately $156,502,114.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 130,219 shares of company stock valued at $48,856,294. 4.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of CrowdStrike in the fourth quarter worth about $683,336,000. Pathstone Holdings LLC bought a new position in CrowdStrike in the fourth quarter valued at approximately $450,418,000. Vanguard Group Inc. boosted its holdings in shares of CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after buying an additional 1,028,405 shares during the period. Bank of New York Mellon Corp increased its position in shares of CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after acquiring an additional 564,662 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of CrowdStrike by 619.0% during the first quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock worth $177,865,000 after acquiring an additional 477,706 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.