Royal Bank of Canada Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $365.00

CrowdStrike (NASDAQ:CRWD) had its price objective lowered by Royal Bank of Canada from $370.00 to $365.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 5.01% from the stock’s previous close.

Several other equities analysts have also recently issued reports on CRWD. Argus lowered their price objective on CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research report on Monday. Stifel Nicolaus boosted their target price on CrowdStrike from $300.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Raymond James lowered their target price on shares of CrowdStrike from $380.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Finally, Susquehanna lifted their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the stock a “positive” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Stock Performance

Shares of CrowdStrike stock opened at $347.59 on Wednesday. The stock has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The firm’s 50-day moving average is $314.88 and its 200 day moving average is $313.01.

CrowdStrike (NASDAQ:CRWD) last posted 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 firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 earnings per share. Sell-side analysts anticipate that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total transaction of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. The trade was a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shawn Henry sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 120,298 shares of the company’s stock, valued at $40,954,251.12. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,248 shares of company stock worth $32,465,110 in the last quarter. 4.34% of the stock is owned by corporate insiders.

Institutional Trading of CrowdStrike

Several hedge funds and other institutional investors have recently bought and sold shares of CRWD. Jennison Associates LLC raised its stake in shares of CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after acquiring an additional 1,013,161 shares during the period. International Assets Investment Management LLC raised its position in CrowdStrike by 17,926.3% in the 3rd quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after purchasing an additional 920,695 shares during the period. Daiwa Securities Group Inc. lifted its stake in CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after buying an additional 564,662 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of CrowdStrike by 248.6% during the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock valued at $146,180,000 after buying an additional 371,695 shares during the last quarter. Hedge funds and other 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.