Morgan Stanley Issues Positive Forecast for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its price target hoisted by Morgan Stanley from $455.00 to $490.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Mizuho boosted their target price on CrowdStrike from $425.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup reissued an “outperform” rating on shares of CrowdStrike in a report on Monday, May 5th. Susquehanna boosted their target price on CrowdStrike from $400.00 to $425.00 and gave the stock a “positive” rating in a report on Wednesday, March 5th. Rosenblatt Securities lifted their price target on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their price target on shares of CrowdStrike from $430.00 to $550.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $449.38.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD opened at $460.56 on Wednesday. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $491.20. The stock 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 stock’s 50 day moving average price is $410.85 and its 200 day moving average price is $386.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.66 by $0.07. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The firm 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 company earned $0.93 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. Equities research analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CrowdStrike news, CAO Anurag Saha sold 1,496 shares of the business’s stock in a transaction on 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 owns 36,165 shares of the company’s stock, valued at $12,969,492.30. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $484.59, for a total transaction of $3,028,687.50. Following the transaction, the director now directly owns 755,592 shares of the company’s stock, valued at $366,152,327.28. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,681 shares of company stock worth $87,081,236. Corporate insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Nova Wealth Management Inc. grew its stake in shares of CrowdStrike by 12.5% in the 1st quarter. Nova Wealth Management Inc. now owns 405 shares of the company’s stock valued at $143,000 after purchasing an additional 45 shares during the period. Anderson Financial Strategies LLC bought a new stake in shares of CrowdStrike in the 1st quarter valued at approximately $206,000. Strs Ohio bought a new stake in shares of CrowdStrike in the 1st quarter valued at approximately $62,872,000. Wealth Management Associates Inc. grew its stake in shares of CrowdStrike by 2.2% in the 1st quarter. Wealth Management Associates Inc. now owns 4,470 shares of the company’s stock valued at $1,576,000 after purchasing an additional 98 shares during the period. Finally, Siren L.L.C. grew its stake in shares of CrowdStrike by 4.2% in the 1st quarter. Siren L.L.C. now owns 25,000 shares of the company’s stock valued at $8,814,000 after purchasing an additional 1,000 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.