Truist Financial Boosts CrowdStrike (NASDAQ:CRWD) Price Target to $375.00

CrowdStrike (NASDAQ:CRWD) had its price objective raised by Truist Financial from $325.00 to $375.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 6.15% from the company’s current price.

A number of other analysts have also commented on the company. Barclays raised their price target on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a research note on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $290.00 price target on shares of CrowdStrike in a research note on Thursday, September 19th. DA Davidson reaffirmed a “buy” rating and issued a $310.00 price target on shares of CrowdStrike in a research note on Wednesday, September 18th. Finally, HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and raised their price target for the stock from $302.00 to $339.00 in a research note on Friday, August 30th. One investment 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. According to MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average target price of $331.90.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $353.29 on Monday. The firm has a market cap of $86.60 billion, a PE ratio of 512.01, a price-to-earnings-growth ratio of 22.77 and a beta of 1.10. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $398.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The business has a 50 day moving average price of $301.83 and a 200-day moving average price of $310.94.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data 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. The firm had revenue of $963.87 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts predict that CrowdStrike will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction dated 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 transaction, the insider now directly owns 174,591 shares of the company’s stock, valued at $45,521,111.43. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $11,582,623.36. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,248 shares of company stock valued at $32,465,110. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CRWD. Jennison Associates LLC grew its stake 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 acquiring an additional 1,013,161 shares during the period. International Assets Investment Management LLC boosted its stake in CrowdStrike by 17,926.3% in the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after purchasing an additional 920,695 shares during the period. Daiwa Securities Group Inc. boosted its stake in CrowdStrike by 1,655.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares during the period. Bank of New York Mellon Corp boosted its stake in CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after purchasing an additional 564,662 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in CrowdStrike by 248.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after purchasing an additional 371,695 shares during the period. 71.16% of the stock is currently owned by institutional investors.

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.