CrowdStrike (NASDAQ:CRWD) Rating Reiterated by Needham & Company LLC

CrowdStrike (NASDAQ:CRWD)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They presently have a $350.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 42.05% from the company’s current price.

Several other analysts have also recently commented on the company. BTIG Research cut CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Susquehanna decreased their price objective on shares of CrowdStrike from $410.00 to $310.00 and set a “positive” rating on the stock in a report on Thursday. Argus dropped their target price on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, August 30th. JMP Securities reissued a “market outperform” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating for the company in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus price target of $327.16.

CrowdStrike Stock Down 3.9 %

CRWD opened at $246.39 on Friday. The firm has a market cap of $59.96 billion, a price-to-earnings ratio of 464.89, a PEG ratio of 13.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 1.90. The firm’s 50-day simple moving average is $289.69 and its 200-day simple moving average is $315.77. CrowdStrike has a twelve month low of $157.59 and a twelve month high of $398.33.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts anticipate that CrowdStrike will post 0.81 EPS for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the sale, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Anurag Saha sold 1,662 shares of CrowdStrike stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the sale, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Burt W. Podbere sold 11,154 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $379.81, for a total value of $4,236,400.74. Following the transaction, the chief financial officer now directly owns 297,650 shares of the company’s stock, valued at approximately $113,050,446.50. The disclosure for this sale can be found here. Insiders sold 130,219 shares of company stock valued at $48,856,294 over the last quarter. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Abich Financial Wealth Management LLC bought a new position in shares of CrowdStrike in the 2nd quarter valued at about $25,000. Family Firm Inc. bought a new stake in shares of CrowdStrike during the 2nd quarter worth approximately $30,000. Itau Unibanco Holding S.A. acquired a new stake in shares of CrowdStrike in the 2nd quarter valued at approximately $33,000. Unique Wealth Strategies LLC bought a new position in shares of CrowdStrike in the second quarter valued at $36,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in CrowdStrike during the first quarter worth $30,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.