CrowdStrike (NASDAQ:CRWD) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of CrowdStrike (NASDAQ:CRWD) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $350.00 price target on the stock.

A number of other research firms also recently issued reports on CRWD. Argus lowered their price objective on shares of CrowdStrike from $400.00 to $325.00 and set a buy rating on the stock in a report on Friday, August 30th. Jefferies Financial Group lowered their price target on shares of CrowdStrike from $400.00 to $300.00 and set a buy rating on the stock in a research note on Wednesday, July 31st. Mizuho reduced 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. Wedbush reaffirmed an outperform rating and issued a $315.00 target price on shares of CrowdStrike in a research report on Friday, August 9th. Finally, Royal Bank of Canada dropped their target price on CrowdStrike from $345.00 to $335.00 and set an outperform rating on the stock in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $327.03.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $277.38 on Thursday. The company has a fifty day moving average price of $267.33 and a 200 day moving average price of $312.39. The firm has a market cap of $67.50 billion, a PE ratio of 523.36, a PEG ratio of 16.14 and a beta of 1.09. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike has a 1-year low of $157.59 and a 1-year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the prior year, the firm earned $0.06 earnings per share. CrowdStrike’s revenue for the quarter was up 31.7% compared to the same quarter last year. Research analysts predict that CrowdStrike will post 0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the transaction, the insider now owns 183,091 shares in the company, valued at approximately $67,985,350.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $371.32, for a total transaction of $1,485,280.00. Following the completion of the sale, the insider now directly owns 183,091 shares in the company, valued at approximately $67,985,350.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 15,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $380.21, for a total value of $5,703,150.00. Following the sale, the director now directly owns 824,234 shares in the company, valued at $313,382,009.14. The disclosure for this sale can be found here. Insiders sold 45,577 shares of company stock worth $16,330,609 in the last quarter. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Burney Co. acquired a new position in CrowdStrike during the first quarter valued at approximately $1,342,000. Principal Financial Group Inc. lifted its position in shares of CrowdStrike by 429.2% during the 2nd quarter. Principal Financial Group Inc. now owns 298,443 shares of the company’s stock worth $114,360,000 after buying an additional 242,052 shares during the last quarter. BNP Paribas bought a new position in CrowdStrike in the first quarter valued at about $2,685,000. Swedbank AB acquired a new position in CrowdStrike during the first quarter worth about $73,972,000. Finally, Coldstream Capital Management Inc. bought a new position in shares of CrowdStrike in the fourth quarter worth about $508,000. 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.