CrowdStrike (NASDAQ:CRWD) Shares Up 0.9% After Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares shot up 0.9% during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $325.00 to $375.00. Truist Financial currently has a buy rating on the stock. CrowdStrike traded as high as $346.07 and last traded at $345.91. 802,160 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 4,993,483 shares. The stock had previously closed at $342.97.

Several other equities analysts have also issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. BTIG Research downgraded CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada cut their price objective on CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. BMO Capital Markets raised their price objective on CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Guggenheim downgraded CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $331.90.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at $11,582,623.36. The trade was a 4.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the business’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 value of $1,361,760.00. Following the completion of the transaction, the insider now owns 120,298 shares in the company, valued at $40,954,251.12. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,248 shares of company stock valued at $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently bought and sold shares of the company. Abich Financial Wealth Management LLC purchased a new stake in shares of CrowdStrike during the second quarter worth $25,000. Oakworth Capital Inc. purchased a new stake in shares of CrowdStrike during the third quarter worth $28,000. Tsfg LLC lifted its position in shares of CrowdStrike by 593.3% during the third quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after acquiring an additional 89 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of CrowdStrike during the second quarter worth $30,000. Finally, Castleview Partners LLC purchased a new stake in shares of CrowdStrike during the third quarter worth $32,000. Hedge funds and other institutional investors own 71.16% of the company’s stock.

CrowdStrike Trading Up 3.0 %

The stock has a market cap of $86.60 billion, a PE ratio of 512.01, a P/E/G ratio of 22.77 and a beta of 1.10. The firm has a 50-day simple moving average of $301.83 and a 200-day simple moving average of $310.94. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. Equities analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 earnings per share for the current year.

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.