Wells Fargo & Company Trims CrowdStrike (NASDAQ:CRWD) Target Price to $350.00

CrowdStrike (NASDAQ:CRWD) had its price objective cut by analysts at Wells Fargo & Company from $435.00 to $350.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 30.17% from the stock’s previous close.

CRWD has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on CrowdStrike from $371.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. KeyCorp decreased their price target on shares of CrowdStrike from $440.00 to $420.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Oppenheimer raised their price objective on shares of CrowdStrike from $355.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of CrowdStrike in a report on Friday, June 21st. Finally, Rosenblatt Securities raised their price target on CrowdStrike from $415.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and a consensus target price of $364.95.

CrowdStrike Stock Performance

Shares of CrowdStrike stock opened at $268.88 on Monday. The firm has a market capitalization of $65.43 billion, a P/E ratio of 507.33, a P/E/G ratio of 15.37 and a beta of 1.10. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29. CrowdStrike has a 52 week low of $140.52 and a 52 week high of $398.33. The firm’s 50 day moving average is $359.35 and its two-hundred day moving average is $327.01.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. The company had revenue of $921.04 million during the quarter, compared to analyst estimates of $904.82 million. Research analysts forecast that CrowdStrike will post 0.9 EPS for the current fiscal year.

Insider Activity

In related news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the sale, the chief accounting officer now owns 40,645 shares in the company, valued at approximately $15,470,706.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the completion of the sale, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Burt W. Podbere sold 15,753 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $305.15, for a total value of $4,807,027.95. Following the transaction, the chief financial officer now directly owns 313,994 shares in the company, valued at approximately $95,815,269.10. The disclosure for this sale can be found here. Insiders have sold 219,675 shares of company stock worth $76,931,522 over the last three months. 4.34% of the stock is currently owned by corporate insiders.

Institutional Trading of CrowdStrike

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of CrowdStrike during the 4th quarter worth about $683,336,000. Pathstone Holdings LLC purchased a new position in CrowdStrike during the fourth quarter worth approximately $450,418,000. Jennison Associates LLC boosted its holdings in shares of CrowdStrike by 33.2% in the 4th quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after purchasing an additional 1,581,796 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CrowdStrike by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after buying an additional 1,028,405 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of CrowdStrike by 22,542.6% during the 4th quarter. International Assets Investment Management LLC now owns 734,300 shares of the company’s stock worth $187,481,000 after buying an additional 731,057 shares during the last quarter. 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.