CrowdStrike (NASDAQ:CRWD) Cut to “Sector Perform” at Scotiabank

Scotiabank downgraded shares of CrowdStrike (NASDAQ:CRWD) from a sector outperform rating to a sector perform rating in a report released on Monday, MarketBeat.com reports. The firm currently has $300.00 target price on the stock, down from their prior target price of $393.00.

Other analysts also recently issued reports about the stock. FBN Securities upgraded shares of CrowdStrike to a strong-buy rating in a research note on Wednesday, June 5th. Piper Sandler downgraded CrowdStrike from an overweight rating to a neutral rating and set a $400.00 price objective on the stock. in a research report on Tuesday, July 2nd. Redburn Atlantic cut CrowdStrike from a neutral rating to a sell rating and cut their target price for the stock from $380.00 to $275.00 in a research report on Thursday, July 18th. Oppenheimer lifted their target price on CrowdStrike from $355.00 to $400.00 and gave the company an outperform rating in a research note on Wednesday, June 5th. Finally, KeyCorp dropped their price target on CrowdStrike from $440.00 to $420.00 and set an overweight rating for the company in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike currently has an average rating of Moderate Buy and an average target price of $359.16.

CrowdStrike Price Performance

NASDAQ CRWD opened at $254.15 on Monday. The business’s fifty day moving average is $355.96 and its 200 day moving average is $326.03. CrowdStrike has a fifty-two week low of $140.52 and a fifty-two week high of $398.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $61.85 billion, a PE ratio of 479.54, a price-to-earnings-growth ratio of 13.55 and a beta of 1.10.

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

Insider Activity at CrowdStrike

In related news, President Michael Sentonas sold 10,735 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the completion of the transaction, the president now owns 411,166 shares in the company, valued at approximately $156,502,114.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Michael Sentonas sold 10,735 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $380.63, for a total transaction of $4,086,063.05. Following the completion of the transaction, the president now owns 411,166 shares in the company, valued at approximately $156,502,114.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $371.32, for a total value of $1,485,280.00. Following the transaction, the insider now owns 183,091 shares of the company’s stock, valued at approximately $67,985,350.12. The disclosure for this sale can be found here. Insiders sold a total of 219,675 shares of company stock worth $76,931,522 in the last quarter. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Hedge funds have recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of CrowdStrike in the 2nd quarter worth $30,000. Unique Wealth Strategies LLC purchased a new stake in shares of CrowdStrike in the 2nd quarter worth $36,000. Trivant Custom Portfolio Group LLC purchased a new stake in shares of CrowdStrike in the 1st quarter worth $30,000. Hobbs Group Advisors LLC purchased a new stake in shares of CrowdStrike in the 2nd quarter worth $38,000. Finally, CVA Family Office LLC purchased a new stake in shares of CrowdStrike in the 4th quarter worth $26,000. 71.16% of the stock is currently owned by hedge funds and other institutional investors.

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.