CrowdStrike (NASDAQ:CRWD) Given New $365.00 Price Target at Royal Bank of Canada

CrowdStrike (NASDAQ:CRWD) had its price target trimmed by Royal Bank of Canada from $370.00 to $365.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also issued reports on CRWD. Wells Fargo & Company upped their target price on shares of CrowdStrike from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on shares of CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Evercore ISI increased their price objective on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday. JMP Securities restated a “market outperform” rating and issued a $400.00 target price on shares of CrowdStrike in a research note on Monday, November 4th. Finally, Stifel Nicolaus increased their price target on CrowdStrike from $300.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Price Performance

CRWD stock opened at $347.59 on Wednesday. The company has a market capitalization of $85.20 billion, a P/E ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $398.33. The business has a 50-day simple moving average of $313.47 and a two-hundred day simple moving average of $312.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. CrowdStrike’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Research analysts expect that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the sale, the insider now owns 120,298 shares in the company, valued at approximately $40,954,251.12. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the completion of the transaction, the chief executive officer now owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock worth $32,465,110 over the last ninety days. 4.34% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Arlington Financial Advisors LLC lifted its stake in CrowdStrike by 1.5% during the second quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after purchasing an additional 30 shares during the last quarter. Synergy Financial Group LTD raised its holdings in shares of CrowdStrike by 0.8% during the 3rd quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock valued at $1,108,000 after buying an additional 30 shares in the last quarter. Sunpointe LLC lifted its position in CrowdStrike by 3.1% in the 3rd quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock worth $317,000 after buying an additional 34 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in CrowdStrike by 1.8% in the third quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock worth $542,000 after buying an additional 34 shares in the last quarter. Finally, Means Investment CO. Inc. grew its position in CrowdStrike by 1.8% during the second quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after acquiring an additional 35 shares during the last quarter. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.