HSBC Downgrades CrowdStrike (NASDAQ:CRWD) to Hold

HSBC cut shares of CrowdStrike (NASDAQ:CRWD) from a buy rating to a hold rating in a report issued on Wednesday morning, Marketbeat.com reports. The firm currently has $347.00 price objective on the stock.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Susquehanna reissued a “positive” rating and issued a $310.00 price target on shares of CrowdStrike in a report on Thursday, September 19th. Cantor Fitzgerald raised their price target on shares of CrowdStrike from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. KeyCorp upped their price target on CrowdStrike from $345.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, DA Davidson restated a “buy” rating and issued a $310.00 price objective on shares of CrowdStrike in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Trading Down 4.6 %

NASDAQ:CRWD opened at $347.59 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a 50-day moving average of $313.47 and a 200-day moving average of $312.77. The company has a market cap of $85.20 billion, a PE ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. CrowdStrike has a one year low of $200.81 and a one year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $958.27 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue was up 31.7% compared to the same quarter last year. As a group, equities research analysts expect that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction dated 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 sale, the insider now owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. The trade was a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sameer K. Gandhi sold 5,036 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total value of $1,613,937.28. Following the completion of the sale, the director now owns 816,730 shares in the company, valued at approximately $261,745,630.40. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently modified their holdings of the stock. Beacon Financial Advisory LLC acquired a new position in CrowdStrike in the third quarter valued at approximately $955,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in CrowdStrike by 10.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after buying an additional 78,305 shares in the last quarter. Burney Co. acquired a new stake in CrowdStrike during the first quarter valued at $1,342,000. Doliver Advisors LP increased its holdings in CrowdStrike by 223.2% in the third quarter. Doliver Advisors LP now owns 6,754 shares of the company’s stock valued at $1,894,000 after buying an additional 4,664 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of CrowdStrike by 0.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock worth $124,644,000 after acquiring an additional 2,863 shares during the period. 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.