Needham & Company LLC Raises CrowdStrike (NASDAQ:CRWD) Price Target to $420.00

CrowdStrike (NASDAQ:CRWD) had its price target increased by equities researchers at Needham & Company LLC from $360.00 to $420.00 in a report released on Wednesday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 20.83% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. TD Cowen reduced their price target on CrowdStrike from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Stifel Nicolaus increased their target price on shares of CrowdStrike from $300.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Barclays raised their target price on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Citigroup cut their price target on shares of CrowdStrike from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Susquehanna restated a “positive” rating and issued a $310.00 price objective on shares of CrowdStrike in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Trading Down 4.6 %

CRWD opened at $347.59 on Wednesday. The stock has a market capitalization of $85.20 billion, a P/E ratio of 503.75, a P/E/G ratio of 26.33 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $398.33. The firm’s fifty day simple moving average is $314.88 and its 200 day simple moving average is $313.01.

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

Insider Activity at CrowdStrike

In other CrowdStrike news, Director Sameer K. Gandhi sold 5,036 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the completion of the sale, the director now directly owns 816,730 shares in the company, valued at $261,745,630.40. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Friday, November 15th. The shares were sold at an average price of $340.44, for a total value of $1,361,760.00. Following the completion of the transaction, the insider now owns 120,298 shares in the company, valued at approximately $40,954,251.12. The trade was a 3.22 % 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 over the last quarter. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Abich Financial Wealth Management LLC bought a new stake in shares of CrowdStrike during the 2nd quarter valued at approximately $25,000. Oakworth Capital Inc. bought a new position in CrowdStrike in the 3rd quarter valued at approximately $28,000. Tsfg LLC boosted its position in 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 in the last quarter. Family Firm Inc. acquired a new position in shares of CrowdStrike during the second quarter worth $30,000. Finally, Castleview Partners LLC bought a new position in shares of CrowdStrike in the 3rd quarter valued at $32,000. 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.