CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

CrowdStrike (NASDAQ:CRWD) had its price objective lifted by equities research analysts at Wells Fargo & Company from $350.00 to $400.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.08% from the stock’s previous close.

A number of other research analysts also recently commented on CRWD. Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a report on Monday. Jefferies Financial Group increased their price target on shares of CrowdStrike from $315.00 to $345.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. BNP Paribas initiated coverage on shares of CrowdStrike in a research report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 price objective for the company. Raymond James dropped their target price on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Susquehanna boosted their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Stock Down 4.6 %

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $398.33. The firm’s 50 day moving average price is $314.88 and its 200 day moving average price is $313.01. The stock has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. As a group, equities research analysts predict that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the sale, the chief executive officer now owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,248 shares of company stock worth $32,465,110 in the last three months. Corporate insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Institutional investors and hedge funds have recently made changes to their positions in the stock. Abich Financial Wealth Management LLC acquired a new position in CrowdStrike in the 2nd quarter valued at about $25,000. Oakworth Capital Inc. acquired a new position in shares of CrowdStrike in the third quarter valued at approximately $28,000. Tsfg LLC raised its position in shares of CrowdStrike by 593.3% in the third quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after buying an additional 89 shares during the last quarter. Family Firm Inc. purchased a new position in shares of CrowdStrike during the second quarter valued at approximately $30,000. Finally, Castleview Partners LLC acquired a new stake in CrowdStrike during the third quarter worth approximately $32,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.