Piper Sandler Downgrades CrowdStrike (NASDAQ:CRWD) to Neutral

CrowdStrike (NASDAQ:CRWD) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a report released on Tuesday, Briefing.com reports. They currently have a $400.00 price objective on the stock. Piper Sandler’s target price suggests a potential upside of 2.00% from the company’s current price.

A number of other brokerages also recently commented on CRWD. HSBC lifted their price objective on CrowdStrike from $411.00 to $412.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Rosenblatt Securities boosted their target price on shares of CrowdStrike from $415.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Mizuho lowered their price objective on shares of CrowdStrike from $390.00 to $370.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Citigroup increased their target price on CrowdStrike from $320.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, JMP Securities restated a “market outperform” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Tuesday, May 14th. Two analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $380.62.

CrowdStrike Price Performance

CrowdStrike stock opened at $392.15 on Tuesday. 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 business has a fifty day moving average of $341.55 and a two-hundred day moving average of $314.36. CrowdStrike has a one year low of $139.37 and a one year high of $394.64. The company has a market cap of $95.43 billion, a P/E ratio of 739.92, a price-to-earnings-growth ratio of 19.31 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The firm had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. As a group, analysts predict that CrowdStrike will post 0.9 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $308.79, for a total value of $1,235,160.00. Following the sale, the insider now directly owns 208,961 shares in the company, valued at approximately $64,525,067.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $308.79, for a total value of $1,235,160.00. Following the completion of the sale, the insider now directly owns 208,961 shares of the company’s stock, valued at approximately $64,525,067.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the sale, the chief executive officer now 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. Over the last 90 days, insiders have sold 219,675 shares of company stock valued at $75,730,552. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of CRWD. CVA Family Office LLC acquired a new stake in CrowdStrike during the 4th quarter worth about $26,000. Hexagon Capital Partners LLC purchased a new position in CrowdStrike during the 4th quarter worth approximately $26,000. Silver Oak Securities Incorporated purchased a new stake in shares of CrowdStrike in the third quarter valued at $27,000. Bear Mountain Capital Inc. purchased a new position in shares of CrowdStrike during the fourth quarter valued at $27,000. Finally, Trivant Custom Portfolio Group LLC acquired a new stake in CrowdStrike during the 1st quarter worth about $30,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.