Sanford C. Bernstein Trims CrowdStrike (NASDAQ:CRWD) Target Price to $327.00
Sanford C. Bernstein has lowered its price target for CrowdStrike (NASDAQ: CRWD) from $X to $Y, maintaining an "outperform" rating. The new target suggests a 26.10% potential upside from the previous close. Several analysts, including Argus and Robert W. Baird, have made similar cuts to their price objectives while keeping positive ratings. CrowdStrike's stock is currently rated as a "Moderate Buy" with a consensus price target of $Z. The company recently reported a revenue increase of 31.7% year-over-year with earnings per share exceeding expectations.
CrowdStrike (NASDAQ:CRWD - Get Free Report) had its price target decreased by research analysts at Sanford C. Bernstein from $334.00 to $327.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Sanford C. Bernstein's price target points to a potential upside of 26.10% from the stock's previous close.
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Several other research firms have also recently weighed in on CRWD. Argus decreased their price objective on shares of CrowdStrike from $400.00 to $325.00 and set a "buy" rating on the stock in a research report on Friday, August 30th. Robert W. Baird cut their target price on shares of CrowdStrike from $335.00 to $315.00 and set an "outperform" rating for the company in a research report on Thursday, August 29th. JMP Securities restated a "market outperform" rating and set a $400.00 price target on shares of CrowdStrike in a research report on Tuesday, May 14th. Morgan Stanley reduced their price objective on CrowdStrike from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Thursday, August 15th. Finally, Rosenblatt Securities decreased their price target on shares of CrowdStrike from $350.00 to $330.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $329.79.
Get Our Latest Research Report on CRWD
CrowdStrike Stock Performance
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NASDAQ CRWD opened at $259.32 on Thursday. CrowdStrike has a 12-month low of $157.59 and a 12-month high of $398.33. The company's 50 day moving average is $295.04 and its 200-day moving average is $316.82. The company has a quick ratio of 1.80, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm has a market cap of $63.11 billion, a P/E ratio of 489.28, a price-to-earnings-growth ratio of 13.44 and a beta of 1.09.
CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. CrowdStrike's revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. Sell-side analysts predict that CrowdStrike will post 0.81 earnings per share for the current year.
Insider Activity at CrowdStrike
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In other CrowdStrike news, CEO George Kurtz sold 55,587 shares of the company's stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $376.45, for a total transaction of $20,925,726.15. Following the transaction, the chief executive officer now owns 1,127,843 shares in the company, valued at approximately $424,576,497.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO George Kurtz sold 55,587 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $376.45, for a total transaction of $20,925,726.15. Following the transaction, the chief executive officer now owns 1,127,843 shares in the company, valued at $424,576,497.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $382.93, for a total transaction of $1,723,185.00. Following the completion of the sale, the insider now directly owns 200,672 shares of the company's stock, valued at approximately $76,843,328.96. The disclosure for this sale can be found here. Insiders have sold 130,219 shares of company stock valued at $48,856,294 over the last ninety days. Insiders own 4.34% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new position in shares of CrowdStrike in the 2nd quarter worth approximately $25,000. Trivant Custom Portfolio Group LLC bought a new position in CrowdStrike in the first quarter worth approximately $30,000. Family Firm Inc. purchased a new position in shares of CrowdStrike during the 2nd quarter worth $30,000. Johnson Financial Group Inc. bought a new stake in shares of CrowdStrike during the 4th quarter valued at $31,000. Finally, Northwest Bank & Trust Co bought a new position in CrowdStrike in the 4th quarter worth $32,000. 71.16% of the stock is owned by hedge funds and other institutional investors.
About CrowdStrike
(Get Free Report)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.
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