CrowdStrike (NASDAQ:CRWD) Price Target Cut to $315.00 by Analysts at Wedbush

CrowdStrike (NASDAQ:CRWD) had its price target reduced by Wedbush from $385.00 to $315.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

CRWD has been the subject of several other research reports. Evercore ISI cut their price target on CrowdStrike from $405.00 to $350.00 and set an outperform rating for the company in a research note on Friday, July 19th. Rosenblatt Securities reduced their target price on shares of CrowdStrike from $420.00 to $350.00 and set a buy rating for the company in a research note on Wednesday. Canaccord Genuity Group restated a buy rating and set a $405.00 price target on shares of CrowdStrike in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of CrowdStrike from $371.00 to $400.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. Finally, Westpark Capital restated a hold rating on shares of CrowdStrike in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, CrowdStrike currently has a consensus rating of Moderate Buy and an average price target of $359.16.

CrowdStrike Stock Performance

NASDAQ CRWD opened at $256.16 on Wednesday. The company has a market capitalization of $62.34 billion, a PE ratio of 483.33, a price-to-earnings-growth ratio of 13.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80. CrowdStrike has a 52-week low of $140.52 and a 52-week high of $398.33. The company has a 50-day simple moving average of $354.16 and a 200 day simple moving average of $326.36.

CrowdStrike (NASDAQ:CRWD) last released its earnings results 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 company had revenue of $921.04 million for the quarter, compared to the consensus estimate of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. On average, research analysts predict that CrowdStrike will post 0.9 EPS for the current year.

Insider Activity at CrowdStrike

In other CrowdStrike news, CFO Burt W. Podbere sold 15,753 shares of CrowdStrike stock in a transaction that occurred 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 of the company’s stock, valued at approximately $95,815,269.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction dated Friday, June 21st. The shares were 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 directly owns 40,645 shares in the company, valued at $15,470,706.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Burt W. Podbere sold 15,753 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were 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 owns 313,994 shares in the company, valued at approximately $95,815,269.10. The disclosure for this sale can be found here. Insiders sold 219,675 shares of company stock worth $76,931,522 in the last ninety days. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in CrowdStrike by 2.0% in the first quarter. Vanguard Group Inc. now owns 16,061,400 shares of the company’s stock valued at $5,149,124,000 after acquiring an additional 315,280 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of CrowdStrike by 33.2% during 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 in the last quarter. Norges Bank purchased a new position in shares of CrowdStrike during the fourth quarter valued at about $683,336,000. First Trust Advisors LP raised its stake in CrowdStrike by 19.3% in the fourth quarter. First Trust Advisors LP now owns 2,214,715 shares of the company’s stock worth $565,461,000 after buying an additional 358,945 shares in the last quarter. Finally, Pathstone Holdings LLC purchased a new stake in CrowdStrike in the fourth quarter worth about $450,418,000. 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.