CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Bank of America Analyst Says

CrowdStrike (NASDAQ:CRWD) had its target price increased by equities research analysts at Bank of America from $400.00 to $420.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 10.60% from the company’s previous close.

CRWD has been the subject of a number of other research reports. KeyCorp increased their price target on shares of CrowdStrike from $395.00 to $480.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Needham & Company LLC boosted their price target on CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Robert W. Baird restated a “neutral” rating and set a $430.00 target price (up previously from $390.00) on shares of CrowdStrike in a research report on Monday, February 3rd. Barclays increased their target price on CrowdStrike from $372.00 to $506.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Scotiabank reissued a “sector perform” rating on shares of CrowdStrike in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, CrowdStrike currently has an average rating of “Moderate Buy” and an average price target of $383.58.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $379.75 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The business has a 50-day moving average of $384.90 and a 200-day moving average of $333.10. The stock has a market capitalization of $93.54 billion, a price-to-earnings ratio of 744.62, a PEG ratio of 17.86 and a beta of 1.16. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $455.59.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 10,801 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $358.47, for a total transaction of $3,871,834.47. Following the transaction, the president now owns 389,589 shares of the company’s stock, valued at $139,655,968.83. This represents a 2.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerhard Watzinger sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 42,391 shares of the company’s stock, valued at $14,791,491.63. The trade was a 41.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,565 shares of company stock worth $51,038,529. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Asset Management LLC bought a new position in shares of CrowdStrike in the 4th quarter worth $11,310,000. Beacon Financial Advisory LLC bought a new position in shares of CrowdStrike in the third quarter valued at $955,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of CrowdStrike by 10.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock valued at $237,331,000 after buying an additional 78,305 shares during the last quarter. Hemenway Trust Co LLC increased its position in shares of CrowdStrike by 356.8% during the third quarter. Hemenway Trust Co LLC now owns 6,852 shares of the company’s stock worth $1,922,000 after acquiring an additional 5,352 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its holdings in shares of CrowdStrike by 30.8% in the 4th quarter. Arcadia Investment Management Corp MI now owns 11,954 shares of the company’s stock worth $4,090,000 after acquiring an additional 2,814 shares during 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.