DA Davidson Reaffirms “Buy” Rating for CrowdStrike (NASDAQ:CRWD)

CrowdStrike (NASDAQ:CRWD)‘s stock had its “buy” rating reaffirmed by research analysts at DA Davidson in a report issued on Wednesday, Benzinga reports. They presently have a $310.00 target price on the stock. DA Davidson’s price objective suggests a potential upside of 11.76% from the company’s previous close.

CRWD has been the subject of a number of other reports. Cantor Fitzgerald lowered their target price on shares of CrowdStrike from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Jefferies Financial Group lowered their price objective on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their target price on CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Piper Sandler upgraded CrowdStrike from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $310.00 to $290.00 in a research note on Tuesday, August 6th. Finally, Canaccord Genuity Group cut their price objective on CrowdStrike from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike currently has an average rating of “Moderate Buy” and a consensus target price of $327.03.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD opened at $277.38 on Wednesday. The company has a 50-day simple moving average of $267.33 and a 200-day simple moving average of $312.39. 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 company has a market cap of $67.50 billion, a PE ratio of 523.36, a price-to-earnings-growth ratio of 16.14 and a beta of 1.09. CrowdStrike has a 12 month low of $157.59 and a 12 month high of $398.33.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the previous year, the company earned $0.06 EPS. CrowdStrike’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts anticipate that CrowdStrike will post 0.56 earnings per share for the current year.

Insider Buying and Selling

In other CrowdStrike news, Director Roxanne S. Austin sold 10,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the sale, the director now owns 18,297 shares in the company, valued at $7,136,012.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Roxanne S. Austin sold 10,000 shares of CrowdStrike stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the completion of the transaction, the director now directly owns 18,297 shares of the company’s stock, valued at approximately $7,136,012.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Henry sold 8,077 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $374.99, for a total transaction of $3,028,794.23. Following the sale, the insider now owns 187,091 shares in the company, valued at approximately $70,157,254.09. The disclosure for this sale can be found here. Insiders have sold 45,577 shares of company stock worth $16,330,609 over the last ninety days. 4.34% of the stock is owned by insiders.

Institutional Investors Weigh In On CrowdStrike

Large investors have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC bought a new position in shares of CrowdStrike during the second quarter worth about $25,000. Trivant Custom Portfolio Group LLC acquired a new position in CrowdStrike during the 1st quarter valued at about $30,000. Family Firm Inc. bought a new position in CrowdStrike in the 2nd quarter worth about $30,000. Johnson Financial Group Inc. acquired a new stake in shares of CrowdStrike in the fourth quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in shares of CrowdStrike during the fourth quarter worth approximately $32,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.