Bank of America Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price target raised by investment analysts at Bank of America from $365.00 to $400.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price points to a potential upside of 15.08% from the company’s current price.

A number of other equities research analysts have also recently issued reports on CRWD. Barclays upped their target price on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research report on Monday. The Goldman Sachs Group decreased their target price on CrowdStrike from $400.00 to $295.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Morgan Stanley raised their price target on CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada decreased their price objective on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Stock Down 4.6 %

CRWD stock opened at $347.59 on Wednesday. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $398.33. The company has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a P/E/G 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. The business has a 50 day moving average price of $314.88 and a two-hundred day moving average price of $313.01.

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

Insider Transactions at CrowdStrike

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 value of $1,173,285.00. Following the transaction, the insider now directly owns 174,591 shares of the company’s stock, valued at $45,521,111.43. The trade was a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameer K. Gandhi sold 5,036 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the sale, the director now directly owns 816,730 shares of the company’s stock, valued at $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 90 days, insiders have sold 108,248 shares of company stock worth $32,465,110. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Beacon Financial Advisory LLC acquired a new position in shares of CrowdStrike in the 3rd quarter valued at about $955,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in CrowdStrike by 10.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 846,189 shares of the company’s stock worth $237,331,000 after purchasing an additional 78,305 shares in the last quarter. Burney Co. bought a new stake in CrowdStrike in the first quarter worth approximately $1,342,000. Doliver Advisors LP lifted its stake 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 during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of CrowdStrike by 0.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 439,865 shares of the company’s stock worth $124,644,000 after buying an additional 2,863 shares during the period. Institutional investors and hedge funds 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.