Stifel Nicolaus Raises CrowdStrike (NASDAQ:CRWD) Price Target to $375.00

CrowdStrike (NASDAQ:CRWD) had its target price hoisted by Stifel Nicolaus from $300.00 to $375.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on CRWD. HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and raised their price objective for the stock from $302.00 to $339.00 in a research report on Friday, August 30th. TD Cowen cut their price target on CrowdStrike from $400.00 to $380.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush set a $330.00 price objective on CrowdStrike in a report on Thursday, October 17th. The Goldman Sachs Group reduced their target price on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Robert W. Baird dropped their target price on CrowdStrike from $335.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, CrowdStrike has an average rating of “Moderate Buy” and a consensus price target of $333.82.

CrowdStrike Stock Down 0.9 %

Shares of CRWD stock opened at $350.15 on Wednesday. CrowdStrike has a one year low of $200.81 and a one year high of $398.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $85.83 billion, a price-to-earnings ratio of 507.46, a PEG ratio of 22.77 and a beta of 1.10. The company’s fifty day moving average price is $303.76 and its 200-day moving average price is $311.21.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Sell-side analysts expect that CrowdStrike will post 0.52 EPS for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, CFO Burt W. Podbere sold 11,178 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.47, for a total value of $3,325,119.66. Following the completion of the sale, the chief financial officer now directly owns 286,472 shares in the company, valued at $85,216,825.84. This trade represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares in the company, valued at approximately $11,582,623.36. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of the business. Beacon Financial Advisory LLC bought a new stake in shares of CrowdStrike during the 3rd quarter valued at $955,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in CrowdStrike by 10.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock valued at $237,331,000 after purchasing an additional 78,305 shares during the last quarter. Burney Co. acquired a new position in CrowdStrike in the first quarter valued at about $1,342,000. Doliver Advisors LP boosted its holdings in CrowdStrike by 223.2% during the third quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock worth $1,894,000 after buying an additional 4,664 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CrowdStrike by 0.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock worth $124,644,000 after buying an additional 2,863 shares during the period. 71.16% of the stock is 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.