CrowdStrike (NASDAQ:CRWD) Given New $420.00 Price Target at Roth Capital

CrowdStrike (NASDAQ:CRWD) had its target price increased by Roth Capital from $410.00 to $420.00 in a report released on Wednesday,Benzinga reports. Roth Capital currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Raymond James restated an “outperform” rating and set a $485.00 price objective (up previously from $390.00) on shares of CrowdStrike in a research note on Wednesday. Oppenheimer boosted their price target on CrowdStrike from $410.00 to $520.00 and gave the company an “outperform” rating in a report on Wednesday. Cantor Fitzgerald upped their price target on CrowdStrike from $440.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Stephens raised their price objective on CrowdStrike from $450.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Bank of America reiterated a “neutral” rating and set a $470.00 target price (up previously from $420.00) on shares of CrowdStrike in a research note on Wednesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $449.38.

CrowdStrike Stock Performance

Shares of CRWD opened at $460.56 on Wednesday. The firm has a market cap of $114.16 billion, a price-to-earnings ratio of 903.08, a PEG 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 business’s 50 day moving average is $410.85 and its two-hundred day moving average is $386.40. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $491.20.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity at CrowdStrike

In related news, President Michael Sentonas sold 13,543 shares of CrowdStrike stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $358.62, for a total transaction of $4,856,790.66. Following the transaction, the president now directly owns 405,308 shares of the company’s stock, valued at $145,351,554.96. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerhard Watzinger sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the completion of the sale, the director now owns 29,500 shares in the company, valued at approximately $14,425,500. This trade represents a 25.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock worth $87,081,236 over the last quarter. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in CrowdStrike by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company’s stock worth $8,051,011,000 after buying an additional 908,554 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after acquiring an additional 1,144,295 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CrowdStrike by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after acquiring an additional 124,984 shares during the last quarter. Norges Bank acquired a new stake in shares of CrowdStrike during the fourth quarter worth $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of CrowdStrike by 52.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company’s stock worth $977,149,000 after purchasing an additional 955,529 shares during the period. 71.16% of the stock is currently owned by institutional investors.

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.