Bank of America Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price objective upped by Bank of America from $365.00 to $400.00 in a research note published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a research note on Monday, November 25th. Barclays boosted their price objective on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. BMO Capital Markets raised their target price on shares of CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. UBS Group cut their price target on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Morgan Stanley raised their price objective on shares of CrowdStrike from $325.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike presently has a consensus rating of “Moderate Buy” and an average target price of $355.80.

CrowdStrike Stock Down 0.5 %

Shares of CRWD stock opened at $345.97 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.90 and a current ratio of 1.86. The stock has a market cap of $84.81 billion, a PE ratio of 678.39, a price-to-earnings-growth ratio of 25.16 and a beta of 1.10. The business’s fifty day moving average is $315.80 and its 200-day moving average is $313.20. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The business had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 earnings per share. Equities analysts expect that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the transaction, the insider now directly owns 120,298 shares in the company, valued at $40,954,251.12. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the sale, the president now owns 400,390 shares in the company, valued at approximately $119,027,939.20. The trade was a 2.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock valued at $32,465,110 in the last quarter. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently made changes to their positions in CRWD. State Street Corp raised its holdings in CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after acquiring an additional 275,717 shares in the last quarter. Jennison Associates LLC raised its stake in shares of CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC lifted its position in CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after purchasing an additional 97,990 shares during the period. Legal & General Group Plc boosted its stake in CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after buying an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares in the last quarter. Institutional investors own 71.16% of the company’s stock.

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.