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

CrowdStrike (NASDAQ:CRWD) had its price target hoisted by analysts at Cantor Fitzgerald from $350.00 to $370.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 4.69% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna reaffirmed a “positive” rating and issued a $310.00 price objective on shares of CrowdStrike in a research note on Thursday, September 19th. HSBC raised CrowdStrike from a “hold” rating to a “buy” rating and boosted their target price for the company from $302.00 to $339.00 in a research note on Friday, August 30th. Truist Financial raised their price target on CrowdStrike from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday. 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. Finally, Rosenblatt Securities restated a “buy” rating and issued a $325.00 target price on shares of CrowdStrike in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, CrowdStrike has an average rating of “Moderate Buy” and an average target price of $334.33.

CrowdStrike Price Performance

NASDAQ:CRWD opened at $353.43 on Thursday. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $398.33. The stock has a fifty day moving average of $303.76 and a 200 day moving average of $311.21. 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 firm has a market capitalization of $86.64 billion, a price-to-earnings ratio of 513.30, a P/E/G ratio of 23.89 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same period in the previous year, the firm posted $0.06 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year. On average, research analysts expect that CrowdStrike will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Burt W. Podbere sold 11,178 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $297.47, for a total transaction of $3,325,119.66. Following the transaction, the chief financial officer now owns 286,472 shares of the company’s stock, valued at $85,216,825.84. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.