CrowdStrike (NASDAQ:CRWD) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of CrowdStrike (NASDAQ:CRWD) in a research report issued on Monday, StockNewsAPI reports. The brokerage set a “buy” rating and a $360.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 20.75% from the stock’s current price.

Several other research analysts have also commented on the stock. Stifel Nicolaus decreased their price target on shares of CrowdStrike from $400.00 to $300.00 and set a “buy” rating for the company in a report on Friday, August 9th. Susquehanna restated a “positive” rating and issued a $310.00 target price on shares of CrowdStrike in a research note on Thursday. The Goldman Sachs Group dropped their price target on CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. DA Davidson restated a “buy” rating and set a $310.00 price objective on shares of CrowdStrike in a research report on Wednesday, September 18th. Finally, BMO Capital Markets upped their price objective on CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $325.32.

CrowdStrike Stock Down 0.6 %

CrowdStrike stock traded down $1.72 during midday trading on Monday, hitting $298.13. The stock had a trading volume of 2,387,803 shares, compared to its average volume of 5,359,059. The business has a fifty day moving average price of $265.90 and a 200 day moving average price of $312.27. CrowdStrike has a 12 month low of $157.59 and a 12 month high of $398.33. The stock has a market cap of $72.55 billion, a P/E ratio of 564.19, a P/E/G 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 (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period in the previous year, the business earned $0.06 EPS. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Research analysts predict that CrowdStrike will post 0.56 EPS for the current year.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the sale, the insider now directly owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 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 the SEC website. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the sale, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,500 shares of company stock worth $13,301,815. 4.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Centaurus Financial Inc. boosted its position in CrowdStrike by 211.0% during the 2nd quarter. Centaurus Financial Inc. now owns 2,435 shares of the company’s stock worth $933,000 after acquiring an additional 1,652 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of CrowdStrike by 130.0% during the second quarter. Anchor Investment Management LLC now owns 230 shares of the company’s stock worth $88,000 after purchasing an additional 130 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in CrowdStrike during the second quarter valued at approximately $41,836,000. Newbridge Financial Services Group Inc. increased its stake in CrowdStrike by 24.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 10,060 shares of the company’s stock valued at $3,855,000 after buying an additional 1,966 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in CrowdStrike in the 2nd quarter worth approximately $15,285,000. Hedge funds and other 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.