CrowdStrike (NASDAQ:CRWD) Earns Hold Rating from Canaccord Genuity Group
Canaccord Genuity Group has restated a "hold" rating for CrowdStrike (NASDAQ:CRWD) and increased its price target from $420.00 to $475.00. This indicates a potential downside of 2.82% from the current price. Other analysts have varied ratings, with three sell ratings, thirteen holds, twenty-six buys, and three strong buys. CrowdStrike's stock opened at $488.76, with a market cap of $121.15 billion. The company reported $1.10 billion in revenue for the last quarter, a 19.8% increase year-over-year, and earnings per share of $0.73, exceeding estimates.
CrowdStrike (NASDAQ:CRWD - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Canaccord Genuity Group in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a $475.00 target price on the stock, up from their prior target price of $420.00. Canaccord Genuity Group's price objective would indicate a potential downside of 2.82% from the company's current price.
- CrowdStrike Stock Slips: Analyst Downgrades Before Earnings
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus set a $480.00 price target on CrowdStrike and gave the company a "buy" rating in a research report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an "outperform" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Scotiabank reissued a "sector perform" rating on shares of CrowdStrike in a research note on Wednesday, February 5th. Bank of America upped their target price on CrowdStrike from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group restated a "buy" rating on shares of CrowdStrike in a research report on Wednesday, May 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $422.76.
Get Our Latest Research Report on CRWD
CrowdStrike Stock Performance
- MarketBeat Week in Review – 05/19 - 05/23
NASDAQ CRWD opened at $488.76 on Wednesday. The firm has a market cap of $121.15 billion, a P/E ratio of 958.37, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company's 50 day moving average is $408.78 and its 200-day moving average is $385.89. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $491.20.
CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts predict that CrowdStrike will post 0.55 earnings per share for the current year.
Insider Activity
- CrowdStrike Near Breakout: Is Now the Time to Buy?
In other news, Director Gerhard Watzinger sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $469.00, for a total value of $4,690,000.00. Following the sale, the director now directly owns 39,500 shares of the company's stock, valued at $18,525,500. This represents a 20.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Burt W. Podbere sold 16,000 shares of CrowdStrike stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $436.88, for a total transaction of $6,990,080.00. Following the transaction, the chief financial officer now directly owns 249,653 shares of the company's stock, valued at approximately $109,068,402.64. This trade represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,431 shares of company stock worth $79,162,548 in the last quarter. 3.32% of the stock is owned by company insiders.
Institutional Trading of CrowdStrike
A number of hedge funds have recently made changes to their positions in CRWD. Cloud Capital Management LLC bought a new position in CrowdStrike during the 1st quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 40 shares during the period. Vision Financial Markets LLC purchased a new position in shares of CrowdStrike in the first quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of CrowdStrike by 305.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its position in CrowdStrike by 811.1% during the fourth quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock valued at $28,000 after buying an additional 73 shares during the period. 71.16% of the stock is owned by 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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