Citigroup Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $345.00

CrowdStrike (NASDAQ:CRWD) had its price target reduced by Citigroup from $425.00 to $345.00 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 32.90% from the stock’s current price.

Several other research firms have also commented on CRWD. KeyCorp reduced their price target on shares of CrowdStrike from $440.00 to $420.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. BMO Capital Markets reduced their price target on shares of CrowdStrike from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. DA Davidson reduced their price target on shares of CrowdStrike from $425.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of CrowdStrike from $371.00 to $400.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Finally, Truist Financial reduced their price target on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $359.16.

CrowdStrike Price Performance

Shares of CrowdStrike stock traded down $9.28 on Wednesday, hitting $259.60. 11,911,593 shares of the company were exchanged, compared to its average volume of 4,951,601. The stock has a market capitalization of $63.18 billion, a price-to-earnings ratio of 489.81, a price-to-earnings-growth ratio of 13.30 and a beta of 1.10. The company has a 50-day moving average price of $359.35 and a 200 day moving average price of $327.01. CrowdStrike has a 1-year low of $140.52 and a 1-year high of $398.33. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Tuesday, June 4th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. As a group, sell-side analysts predict that CrowdStrike will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, CFO Burt W. Podbere sold 15,753 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $305.15, for a total transaction of $4,807,027.95. Following the completion of the transaction, the chief financial officer now directly owns 313,994 shares of the company’s stock, valued at $95,815,269.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the sale, the chief accounting officer now directly owns 40,645 shares in the company, valued at $15,470,706.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Burt W. Podbere sold 15,753 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $305.15, for a total transaction of $4,807,027.95. Following the completion of the sale, the chief financial officer now owns 313,994 shares in the company, valued at $95,815,269.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,675 shares of company stock worth $76,931,522. Company insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Hedge funds have recently bought and sold shares of the company. Unique Wealth Strategies LLC acquired a new stake in CrowdStrike during the second quarter worth approximately $36,000. Trivant Custom Portfolio Group LLC acquired a new stake in CrowdStrike during the first quarter worth approximately $30,000. Hobbs Group Advisors LLC acquired a new stake in CrowdStrike during the second quarter worth approximately $38,000. CVA Family Office LLC acquired a new stake in CrowdStrike during the fourth quarter worth approximately $26,000. Finally, Hexagon Capital Partners LLC acquired a new stake in CrowdStrike during the fourth quarter worth approximately $26,000. 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.