Citigroup Boosts CrowdStrike (NASDAQ:CRWD) Price Target to $400.00

CrowdStrike (NASDAQ:CRWD) had its target price increased by equities researchers at Citigroup from $300.00 to $400.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 15.42% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on CRWD. Raymond James cut their target price on CrowdStrike from $380.00 to $275.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Barclays lifted their price objective on shares of CrowdStrike from $295.00 to $372.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Piper Sandler restated an “overweight” rating and issued a $290.00 target price on shares of CrowdStrike in a research report on Thursday, September 19th. Wedbush set a $330.00 target price on shares of CrowdStrike in a research note on Thursday, October 17th. Finally, Oppenheimer lowered their target price on CrowdStrike from $450.00 to $365.00 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, eight have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.55.

CrowdStrike Stock Performance

Shares of NASDAQ CRWD traded down $17.73 during midday trading on Wednesday, hitting $346.57. The company’s stock had a trading volume of 4,476,545 shares, compared to its average volume of 4,987,993. 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 has a 1-year low of $200.81 and a 1-year high of $398.33. The firm’s fifty day moving average price is $311.86 and its 200-day moving average price is $312.52. The firm has a market cap of $84.95 billion, a P/E ratio of 502.28, a P/E/G ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last posted its 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. The company 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 business’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. On average, sell-side analysts forecast that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, Director Sameer K. Gandhi sold 5,036 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 816,730 shares of the company’s stock, valued at approximately $261,745,630.40. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the completion of the sale, the insider now directly owns 174,591 shares in the company, valued at approximately $45,521,111.43. The trade was a 2.51 % decrease in their position. 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 three months. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of 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 purchasing an additional 275,717 shares in the last quarter. Jennison Associates LLC increased its position in CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after acquiring an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after acquiring an additional 97,990 shares during the last quarter. Legal & General Group Plc raised its stake in shares of CrowdStrike by 3.0% in the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after acquiring an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of 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 purchasing an additional 77,100 shares in the last quarter. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.