CrowdStrike (NASDAQ:CRWD) Price Target Raised to $510.00 at Royal Bank of Canada

CrowdStrike (NASDAQ:CRWD) had its target price increased by Royal Bank of Canada from $500.00 to $510.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on CRWD. BTIG Research reaffirmed a “buy” rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Stifel Nicolaus set a $480.00 price objective on shares of CrowdStrike and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Bank of America reissued a “neutral” rating and set a $470.00 price objective (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday. Morgan Stanley increased their price objective on shares of CrowdStrike from $415.00 to $455.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Finally, Rosenblatt Securities increased their price objective on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a “buy” rating in a research report on Monday. Two equities research 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $449.38.

CrowdStrike Stock Down 5.8%

Shares of NASDAQ:CRWD opened at $460.56 on Wednesday. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $491.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $114.16 billion, a PE ratio of 903.08, a PEG ratio of 17.86 and a beta of 1.22. The company has a 50 day moving average price of $410.85 and a two-hundred day moving average price of $386.40.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.66 by $0.07. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 19.8% on a year-over-year basis. Analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Insiders Place Their Bets

In other CrowdStrike news, CEO George Kurtz sold 22,449 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.68, for a total value of $8,052,007.32. Following the transaction, the chief executive officer now directly owns 2,178,452 shares of the company’s stock, valued at $781,367,163.36. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the completion of the transaction, the chief accounting officer now directly owns 36,165 shares in the company, valued at approximately $12,969,492.30. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,681 shares of company stock worth $87,081,236 in the last quarter. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Hedge funds have recently bought and sold shares of the company. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike during the 1st quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 40 shares during the last quarter. Vision Financial Markets LLC bought a new stake in shares of CrowdStrike during the 1st quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its holdings in shares of CrowdStrike by 811.1% during the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 73 shares during the last quarter. 71.16% of the stock is owned by institutional investors.

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.