CrowdStrike’s (CRWD) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of CrowdStrike (NASDAQ:CRWD) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $350.00 price objective on the stock.

Several other brokerages also recently weighed in on CRWD. Citigroup decreased their target price on CrowdStrike from $345.00 to $300.00 and set a buy rating for the company in a research report on Wednesday, August 14th. Morgan Stanley lowered their price objective on shares of CrowdStrike from $360.00 to $325.00 and set an overweight rating for the company in a research report on Thursday, August 15th. KeyCorp dropped their price objective on shares of CrowdStrike from $440.00 to $420.00 and set an overweight rating on the stock in a research note on Wednesday, July 17th. TD Cowen decreased their target price on shares of CrowdStrike from $400.00 to $380.00 and set a buy rating for the company in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of CrowdStrike from $400.00 to $330.00 and set an overweight rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike currently has an average rating of Moderate Buy and an average target price of $327.16.

CrowdStrike Trading Down 3.9 %

NASDAQ CRWD opened at $246.39 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 1.90. CrowdStrike has a one year low of $157.59 and a one year high of $398.33. The company’s 50 day moving average price is $289.69 and its 200 day moving average price is $315.83. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 464.89, a PEG ratio of 13.44 and a beta of 1.09.

CrowdStrike (NASDAQ:CRWD) last issued its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating 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 business had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter last year, the firm posted $0.06 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts predict that CrowdStrike will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, CAO Anurag Saha sold 1,662 shares of the company’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 $632,607.06. Following the completion of the transaction, the chief accounting officer now directly owns 40,645 shares in the company, valued at approximately $15,470,706.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In other CrowdStrike news, CFO Burt W. Podbere sold 11,154 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $379.81, for a total value of $4,236,400.74. Following the sale, the chief financial officer now owns 297,650 shares in the company, valued at $113,050,446.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anurag Saha sold 1,662 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $380.63, for a total value of $632,607.06. Following the transaction, the chief accounting officer now owns 40,645 shares of the company’s stock, valued at $15,470,706.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,219 shares of company stock valued at $48,856,294. Insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several large investors have recently added to or reduced their stakes in CRWD. Arlington Financial Advisors LLC lifted its stake in shares of CrowdStrike by 1.5% in the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock worth $778,000 after acquiring an additional 30 shares during the period. Saturna Capital Corp lifted its position in CrowdStrike by 2.7% in the first quarter. Saturna Capital Corp now owns 1,273 shares of the company’s stock worth $408,000 after purchasing an additional 33 shares during the period. Means Investment CO. Inc. boosted its stake in CrowdStrike by 1.8% during the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after purchasing an additional 35 shares in the last quarter. Shepherd Financial Partners LLC boosted its stake in CrowdStrike by 1.4% during the 4th quarter. Shepherd Financial Partners LLC now owns 2,528 shares of the company’s stock valued at $645,000 after purchasing an additional 36 shares in the last quarter. Finally, Albion Financial Group UT increased its position in shares of CrowdStrike by 3.7% during the 1st quarter. Albion Financial Group UT now owns 1,096 shares of the company’s stock valued at $351,000 after purchasing an additional 39 shares during the period. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.