CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Citigroup Analyst Says

CrowdStrike (NASDAQ:CRWD) had its price target boosted by equities research analysts at Citigroup from $300.00 to $400.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 15.42% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets boosted their price objective on shares of CrowdStrike from $315.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer reduced their price target on shares of CrowdStrike from $450.00 to $365.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Evercore ISI raised their price objective on shares of CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday. Susquehanna lifted their price objective on CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $290.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.55.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD traded down $17.73 during trading on Wednesday, hitting $346.57. 4,476,545 shares of the stock were exchanged, compared to its average volume of 4,987,993. The company has a market cap of $84.95 billion, a PE ratio of 502.28, a P/E/G ratio of 26.33 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 company has a fifty day moving average price of $311.86 and a two-hundred day moving average price of $312.52. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. CrowdStrike’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, analysts forecast that CrowdStrike will post 0.49 EPS for the current year.

Insider Activity at CrowdStrike

In other news, CEO George Kurtz sold 55,325 shares of CrowdStrike stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the sale, the chief executive officer now directly owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares of the company’s stock, valued at $45,521,111.43. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors have recently made changes to their positions in CRWD. Abich Financial Wealth Management LLC bought a new stake in shares of CrowdStrike in the second quarter worth $25,000. Oakworth Capital Inc. acquired a new position in CrowdStrike during the 3rd quarter worth $28,000. Tsfg LLC increased its position in shares of CrowdStrike by 593.3% in the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock worth $29,000 after purchasing an additional 89 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of CrowdStrike in the 2nd quarter valued at about $30,000. Finally, Castleview Partners LLC acquired a new position in CrowdStrike in the third quarter worth about $32,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.