CrowdStrike (NASDAQ:CRWD) Rating Lowered to “Hold” at HSBC

CrowdStrike (NASDAQ:CRWD) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Wednesday, MarketBeat.com reports. They presently have a $347.00 target price on the stock. HSBC’s target price indicates a potential downside of 0.17% from the company’s previous close.

A number of other analysts have also recently issued reports on CRWD. BNP Paribas initiated coverage on CrowdStrike in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 target price for the company. Piper Sandler restated an “overweight” rating and set a $290.00 target price on shares of CrowdStrike in a research report on Thursday, September 19th. TD Cowen cut their target price on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Rosenblatt Securities increased their price target on shares of CrowdStrike from $325.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Hsbc Global Res upgraded shares of CrowdStrike from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Stock Down 4.6 %

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. The firm has a 50 day simple moving average of $314.88 and a 200-day simple moving average of $313.01. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $398.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $85.20 billion, a PE ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced 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 net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the previous year, the company earned $0.06 earnings per share. CrowdStrike’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other news, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total value of $1,173,285.00. Following the transaction, the insider now owns 174,591 shares in the company, valued at $45,521,111.43. The trade was a 2.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sameer K. Gandhi sold 5,036 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the completion of the transaction, the director now owns 816,730 shares in the company, valued at approximately $261,745,630.40. The trade was a 0.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,248 shares of company stock worth $32,465,110. Insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after buying an additional 275,717 shares during the period. Jennison Associates LLC boosted its position in 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 in the last quarter. Geode Capital Management LLC grew its stake in 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 purchasing an additional 97,990 shares during the period. Legal & General Group Plc increased its stake in shares of CrowdStrike by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after acquiring an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock valued at $696,471,000 after purchasing an additional 77,100 shares during the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

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.