Citigroup Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its target price lifted by Citigroup from $400.00 to $420.00 in a report issued on Friday morning, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their price objective on CrowdStrike from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Evercore ISI raised their price target on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, November 25th. CICC Research started coverage on shares of CrowdStrike in a research report on Monday, November 18th. They issued a “market perform” rating and a $295.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of CrowdStrike from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities lifted their price target on shares of CrowdStrike from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $366.38.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD opened at $357.00 on Friday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $87.93 billion, a price-to-earnings ratio of 700.01, a price-to-earnings-growth ratio of 18.55 and a beta of 1.14. The firm has a 50 day moving average of $355.33 and a 200 day moving average of $313.16. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $398.33.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,863 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $358.46, for a total value of $667,810.98. Following the completion of the sale, the chief accounting officer now directly owns 41,059 shares in the company, valued at $14,718,009.14. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gerhard Watzinger sold 30,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $348.93, for a total value of $10,467,900.00. Following the transaction, the director now owns 42,391 shares in the company, valued at $14,791,491.63. This trade represents a 41.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,351 shares of company stock worth $38,935,113. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Institutional investors and hedge funds have recently modified their holdings of the stock. Secure Asset Management LLC lifted its stake in CrowdStrike by 13.8% in the 4th quarter. Secure Asset Management LLC now owns 7,388 shares of the company’s stock valued at $2,528,000 after buying an additional 896 shares in the last quarter. Seros Financial LLC purchased a new position in shares of CrowdStrike in the fourth quarter valued at approximately $608,000. Red Door Wealth Management LLC boosted its stake in shares of CrowdStrike by 8.4% in the fourth quarter. Red Door Wealth Management LLC now owns 1,140 shares of the company’s stock worth $390,000 after acquiring an additional 88 shares during the last quarter. IVC Wealth Advisors LLC boosted its stake in shares of CrowdStrike by 7.5% in the fourth quarter. IVC Wealth Advisors LLC now owns 1,426 shares of the company’s stock worth $488,000 after acquiring an additional 100 shares during the last quarter. Finally, Goldstein Advisors LLC raised its stake in CrowdStrike by 11.3% in the 4th quarter. Goldstein Advisors LLC now owns 1,497 shares of the company’s stock valued at $512,000 after purchasing an additional 152 shares during the last quarter. Hedge funds and other institutional investors 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.