CrowdStrike (NASDAQ:CRWD) Trading 1.3% Higher Following Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares rose 1.3% on Friday after KeyCorp raised their price target on the stock from $345.00 to $395.00. KeyCorp currently has an overweight rating on the stock. CrowdStrike traded as high as $366.66 and last traded at $362.08. Approximately 799,822 shares changed hands during trading, a decline of 84% from the average daily volume of 4,972,516 shares. The stock had previously closed at $357.55.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald increased their price target on shares of CrowdStrike from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday. HSBC raised shares of CrowdStrike from a “hold” rating to a “buy” rating and boosted their price objective for the company from $302.00 to $339.00 in a research report on Friday, August 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $325.00 price objective on shares of CrowdStrike in a research report on Thursday, September 19th. Morgan Stanley increased their target price on CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $335.62.

Insider Buying and Selling at CrowdStrike

In related news, insider Shawn Henry sold 4,500 shares of the firm’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 sale, the insider now owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $320.38, for a total value of $2,002,375.00. Following the completion of the sale, the director now directly owns 821,766 shares in the company, valued at $263,277,391.08. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,248 shares of company stock valued at $32,465,110 in the last three months. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several large investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in CrowdStrike by 2.9% during the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after purchasing an additional 275,717 shares in the last quarter. Jennison Associates LLC raised its stake in shares of CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in CrowdStrike by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after buying an additional 97,990 shares in the last quarter. Legal & General Group Plc lifted its holdings in CrowdStrike by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of CrowdStrike by 4.4% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Price Performance

The firm has a market capitalization of $89.47 billion, a P/E ratio of 524.75, a P/E/G ratio of 23.89 and a beta of 1.10. 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 business’s fifty day moving average is $305.77 and its 200 day moving average is $311.53.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. The company had revenue of $963.87 million for 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 revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. As a group, analysts forecast that CrowdStrike Holdings, Inc. will post 0.52 EPS for the current year.

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.