CrowdStrike (NASDAQ:CRWD) Price Target Lowered to $310.00 at Piper Sandler

CrowdStrike (NASDAQ:CRWD) had its price target lowered by Piper Sandler from $400.00 to $310.00 in a report released on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

CRWD has been the topic of a number of other reports. KeyCorp dropped their target price on shares of CrowdStrike from $440.00 to $420.00 and set an overweight rating on the stock in a research note on Wednesday, July 17th. JMP Securities reiterated a market outperform rating and set a $400.00 price objective on shares of CrowdStrike in a research note on Tuesday, May 14th. Morgan Stanley increased their price objective on shares of CrowdStrike from $372.00 to $422.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Wedbush dropped their price objective on shares of CrowdStrike from $390.00 to $385.00 and set an outperform rating on the stock in a research note on Wednesday, June 5th. Finally, Mizuho dropped their price objective on shares of CrowdStrike from $390.00 to $370.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $359.16.

CrowdStrike Stock Performance

CrowdStrike stock opened at $254.15 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.80 and a quick ratio of 1.80. CrowdStrike has a 1-year low of $140.52 and a 1-year high of $398.33. The firm has a market capitalization of $61.85 billion, a P/E ratio of 479.54, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10. The company’s 50-day moving average is $355.96 and its 200 day moving average is $326.03.

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

Insider Buying and Selling

In related news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the transaction, the chief executive officer now owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO George Kurtz sold 56,279 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the transaction, the chief executive officer now owns 1,146,048 shares of the company’s stock, valued at $348,868,471.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Anurag Saha sold 1,662 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $632,607.06. Following the transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The disclosure for this sale can be found here. Insiders sold a total of 219,675 shares of company stock valued at $76,931,522 over the last 90 days. Insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Norges Bank acquired a new stake in CrowdStrike during the fourth quarter valued at $683,336,000. Pathstone Holdings LLC acquired a new stake in CrowdStrike during the fourth quarter valued at $450,418,000. Jennison Associates LLC grew its position in CrowdStrike by 33.2% during the fourth quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after buying an additional 1,581,796 shares during the period. Vanguard Group Inc. grew its position in CrowdStrike by 7.0% during the fourth 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 grew its position in CrowdStrike by 22,542.6% during the fourth quarter. International Assets Investment Management LLC now owns 734,300 shares of the company’s stock valued at $187,481,000 after buying an additional 731,057 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.