CrowdStrike (NASDAQ:CRWD) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of CrowdStrike (NASDAQ:CRWD) in a research note published on Monday, Marketbeat.com reports. The brokerage currently has a $495.00 target price on the stock, up from their prior target price of $490.00.

CRWD has been the topic of a number of other reports. Stephens upped their target price on shares of CrowdStrike from $450.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Needham & Company LLC increased their price objective on shares of CrowdStrike from $420.00 to $530.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Scotiabank increased their price objective on shares of CrowdStrike from $370.00 to $480.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. UBS Group reiterated a “buy” rating on shares of CrowdStrike in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group increased their price objective on shares of CrowdStrike from $410.00 to $520.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $456.40.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $476.18 on Monday. The stock has a market cap of $118.69 billion, a price-to-earnings ratio of -690.12 and a beta of 1.16. CrowdStrike has a 52 week low of $200.81 and a 52 week high of $517.98. The company’s 50-day moving average price is $470.85 and its 200 day moving average price is $412.20. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21.

CrowdStrike (NASDAQ:CRWD) last released 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. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. As a group, research analysts forecast that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Anurag Saha sold 1,768 shares of CrowdStrike stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $491.77, for a total value of $869,449.36. Following the completion of the sale, the chief accounting officer owned 41,251 shares in the company, valued at approximately $20,286,004.27. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roxanne S. Austin sold 9,447 shares of CrowdStrike stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $512.65, for a total transaction of $4,843,004.55. Following the completion of the sale, the director owned 18,858 shares of the company’s stock, valued at approximately $9,667,553.70. This trade represents a 33.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,221 shares of company stock valued at $117,687,463. 3.32% of the stock is owned by insiders.

Institutional Trading of CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike in the first quarter worth $25,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in CrowdStrike by 114.3% in the first 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 acquired a new position in CrowdStrike in the first quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in 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 purchasing an additional 58 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in CrowdStrike in the first quarter worth $30,000. Institutional investors own 71.16% of the company’s stock.

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.