CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

CrowdStrike (NASDAQ:CRWD) had its price objective boosted by research analysts at Morgan Stanley from $325.00 to $355.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 0.48% from the company’s previous close.

A number of other equities research analysts have also recently commented on CRWD. BMO Capital Markets raised their price target on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Guggenheim lowered CrowdStrike from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $290.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. Raymond James reduced their price objective on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Finally, Truist Financial reaffirmed a “buy” rating and set a $325.00 price target on shares of CrowdStrike in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.90.

CrowdStrike Trading Up 3.0 %

Shares of NASDAQ:CRWD opened at $353.29 on Monday. The company has a market cap of $86.60 billion, a P/E ratio of 512.01, a PEG ratio of 22.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The stock’s fifty day moving average price is $301.83 and its 200-day moving average price is $310.94.

CrowdStrike (NASDAQ:CRWD) last posted its 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 company had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. CrowdStrike’s revenue was up 31.7% on a year-over-year basis. Sell-side analysts expect that CrowdStrike will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the transaction, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the transaction, the insider now directly owns 120,298 shares of the company’s stock, valued at $40,954,251.12. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,248 shares of company stock valued at $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp grew its position in CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after buying an additional 275,717 shares in the last quarter. Jennison Associates LLC boosted its position in shares of CrowdStrike by 25.0% during the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after buying an additional 97,990 shares during the period. Legal & General Group Plc boosted its holdings in shares of CrowdStrike by 3.0% in the second 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. Finally, Ameriprise Financial Inc. boosted its holdings in shares of CrowdStrike by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares during the period. 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.