CrowdStrike (NASDAQ:CRWD) Trading 0.3% Higher – Still a Buy?

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) traded up 0.3% during trading on Thursday . The stock traded as high as $351.09 and last traded at $348.84. 837,871 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 5,022,940 shares. The stock had previously closed at $347.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas started coverage on CrowdStrike in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price objective for the company. Sanford C. Bernstein dropped their price objective on shares of CrowdStrike from $334.00 to $327.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Citigroup cut their price objective on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Argus decreased their target price on CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Finally, Raymond James cut their price target on CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $328.74.

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 firm has a market capitalization of $82.55 billion, a P/E ratio of 488.04, a PEG ratio of 23.52 and a beta of 1.10. The company’s 50 day moving average price is $297.79 and its 200 day moving average price is $310.13.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. As a group, sell-side analysts anticipate that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the completion of the sale, the chief accounting officer now owns 38,962 shares in the company, valued at approximately $11,582,623.36. The trade was a 4.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the transaction, the chief executive officer now directly owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is currently owned by insiders.

Institutional Trading of CrowdStrike

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in CrowdStrike by 2.0% during the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after purchasing an additional 315,280 shares during the period. State Street Corp boosted its position in shares of CrowdStrike by 2.9% during the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after purchasing an additional 275,717 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after buying an additional 1,013,161 shares during the period. Geode Capital Management LLC increased its position in shares of CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after buying an additional 97,990 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after buying an additional 60,607 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.