Oppenheimer Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price target hoisted by equities research analysts at Oppenheimer from $365.00 to $410.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 18.30% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Evercore ISI lifted their target price on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Monday. CICC Research began coverage on CrowdStrike in a research report on Monday, November 18th. They issued a “market perform” rating and a $295.00 price objective on the stock. DA Davidson reaffirmed a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a research report on Wednesday, September 18th. Westpark Capital reissued a “hold” rating on shares of CrowdStrike in a research report on Monday. Finally, Citigroup lifted their price objective on shares of CrowdStrike from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, CrowdStrike presently has a consensus rating of “Moderate Buy” and an average price target of $353.80.

CrowdStrike Trading Down 4.9 %

Shares of CrowdStrike stock traded down $17.73 during trading hours on Wednesday, reaching $346.57. The stock had a trading volume of 4,476,545 shares, compared to its average volume of 4,987,993. The firm has a market capitalization of $84.95 billion, a price-to-earnings ratio of 502.28, a P/E/G ratio of 26.33 and a beta of 1.10. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $311.86 and a two-hundred day simple moving average of $312.52.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million for the quarter, compared to analyst estimates of $958.27 million. During the same quarter last year, the firm posted $0.06 earnings per share. CrowdStrike’s revenue for the quarter was up 31.7% compared to the same quarter last year. As a group, equities research analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current year.

Insider Activity

In other news, insider Shawn Henry sold 4,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sameer K. Gandhi sold 5,036 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $320.48, for a total transaction of $1,613,937.28. Following the transaction, the director now owns 816,730 shares in the company, valued at $261,745,630.40. This represents a 0.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,248 shares of company stock valued at $32,465,110. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several institutional investors have recently modified their holdings of the company. State Street Corp raised its position in CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after acquiring an additional 275,717 shares in the last quarter. Jennison Associates LLC grew its stake in shares of CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after purchasing an additional 97,990 shares in the last quarter. Legal & General Group Plc lifted its stake in CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after purchasing an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in CrowdStrike by 4.4% during the second quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after buying an additional 77,100 shares in the last quarter. 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.