DA Davidson Reiterates Buy Rating for CrowdStrike (NASDAQ:CRWD)

CrowdStrike (NASDAQ:CRWD)‘s stock had its “buy” rating restated by analysts at DA Davidson in a report issued on Wednesday, Benzinga reports. They currently have a $310.00 target price on the stock. DA Davidson’s target price points to a potential upside of 11.76% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Susquehanna dropped their price target on shares of CrowdStrike from $410.00 to $310.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Sanford C. Bernstein lowered their price objective on CrowdStrike from $334.00 to $327.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. BMO Capital Markets raised their target price on shares of CrowdStrike from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. UBS Group decreased their price target on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reduced their price objective on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $327.03.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $277.38 on Wednesday. CrowdStrike has a fifty-two week low of $157.59 and a fifty-two week high of $398.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average price of $267.33 and a 200 day moving average price of $312.39. The stock has a market capitalization of $67.50 billion, a P/E ratio of 523.36, a PEG ratio of 16.14 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.97 by $0.07. The business had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period last year, the business posted $0.06 earnings per share. Equities research analysts forecast that CrowdStrike will post 0.56 EPS for the current year.

Insider Transactions at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total value of $1,040,000.00. Following the sale, the insider now directly owns 179,091 shares in the company, valued at $46,563,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the sale, the insider now owns 179,091 shares of the company’s stock, valued at $46,563,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sameer K. Gandhi sold 15,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $380.21, for a total transaction of $5,703,150.00. Following the completion of the transaction, the director now directly owns 824,234 shares of the company’s stock, valued at $313,382,009.14. The disclosure for this sale can be found here. In the last three months, insiders sold 45,577 shares of company stock valued at $16,330,609. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC acquired a new stake in CrowdStrike in the 4th quarter valued at about $450,418,000. Vanguard Group Inc. lifted its holdings in shares of CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CrowdStrike by 47.5% in the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after purchasing an additional 564,662 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of CrowdStrike by 619.0% during the 1st quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock worth $177,865,000 after purchasing an additional 477,706 shares in the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of CrowdStrike during the 4th quarter worth approximately $100,459,000. Hedge funds and other 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.