Macquarie Initiates Coverage on CrowdStrike (NASDAQ:CRWD)

Equities research analysts at Macquarie began coverage on shares of CrowdStrike (NASDAQ:CRWD) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $465.00 price target on the stock. Macquarie’s price objective would indicate a potential downside of 2.30% from the company’s previous close.

A number of other research analysts also recently commented on the company. Sanford C. Bernstein downgraded CrowdStrike from an “outperform” rating to a “market perform” rating and set a $371.00 price objective on the stock. in a report on Friday, June 6th. Stifel Nicolaus increased their price target on shares of CrowdStrike from $480.00 to $495.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Mizuho lifted their price target on shares of CrowdStrike from $425.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. BTIG Research reissued a “buy” rating on shares of CrowdStrike in a report on Thursday, May 22nd. Finally, DA Davidson upped their target price on CrowdStrike from $415.00 to $530.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, CrowdStrike presently has a consensus rating of “Moderate Buy” and a consensus price target of $460.93.

CrowdStrike Price Performance

CRWD stock opened at $475.96 on Thursday. The business’s fifty day moving average price is $474.54 and its 200 day moving average price is $414.78. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $517.98. The company has a market capitalization of $118.63 billion, a PE ratio of -689.80 and a beta of 1.16. 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 issued its quarterly 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. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations 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 revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. On average, sell-side analysts anticipate that CrowdStrike will post 0.55 EPS for the current year.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,768 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total value of $869,449.36. Following the transaction, the chief accounting officer owned 41,251 shares in the company, valued at approximately $20,286,004.27. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $512.43, for a total value of $3,202,687.50. Following the completion of the transaction, the director owned 781,011 shares in the company, valued at approximately $400,213,466.73. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,294 shares of company stock valued at $118,670,500. 3.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp boosted its position in CrowdStrike by 0.4% in the second quarter. CHURCHILL MANAGEMENT Corp now owns 55,426 shares of the company’s stock worth $28,229,000 after purchasing an additional 200 shares during the last quarter. EWA LLC purchased a new stake in shares of CrowdStrike during the 2nd quarter valued at $213,000. Philip James Wealth Mangement LLC increased its position in shares of CrowdStrike by 1.8% during the 2nd quarter. Philip James Wealth Mangement LLC now owns 1,948 shares of the company’s stock valued at $992,000 after purchasing an additional 35 shares during the last quarter. Warren Street Wealth Advisors LLC bought a new stake in shares of CrowdStrike during the 2nd quarter worth $201,000. Finally, Naples Global Advisors LLC bought a new stake in shares of CrowdStrike during the 2nd quarter worth $236,000. Hedge funds and other institutional investors 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.