Rosenblatt Securities Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $350.00

CrowdStrike (NASDAQ:CRWD) had its price objective cut by Rosenblatt Securities from $420.00 to $350.00 in a report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. JMP Securities restated a market outperform rating and set a $400.00 price target on shares of CrowdStrike in a research note on Tuesday, May 14th. HSBC lowered CrowdStrike from a buy rating to a hold rating and cut their target price for the company from $388.00 to $302.00 in a research note on Tuesday, July 23rd. Westpark Capital reissued a hold rating on shares of CrowdStrike in a report on Tuesday, July 23rd. Scotiabank downgraded shares of CrowdStrike from a sector outperform rating to a sector perform rating and reduced their price objective for the stock from $393.00 to $300.00 in a report on Monday, July 22nd. Finally, Canaccord Genuity Group reissued a buy rating and issued a $405.00 target price on shares of CrowdStrike in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $359.16.

CrowdStrike Price Performance

NASDAQ CRWD opened at $256.16 on Wednesday. CrowdStrike has a twelve month low of $140.52 and a twelve month 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 stock has a market capitalization of $62.34 billion, a PE ratio of 483.33, a P/E/G ratio of 12.98 and a beta of 1.10. The stock has a 50-day simple moving average of $354.16 and a 200 day simple moving average of $326.36.

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 the consensus estimate of $0.21 by ($0.01). CrowdStrike had a return on equity of 7.39% and a net margin of 4.01%. The business had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. Research analysts anticipate that CrowdStrike will post 0.9 EPS for the current year.

Insider Buying and Selling

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the completion of the sale, the insider now owns 204,961 shares of the company’s stock, valued at approximately $68,358,592.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the sale, the chief executive officer now directly owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $333.52, for a total transaction of $1,334,080.00. Following the transaction, the insider now directly owns 204,961 shares in the company, valued at approximately $68,358,592.72. The disclosure for this sale can be found here. Insiders sold a total of 219,675 shares of company stock valued at $76,931,522 over the last ninety days. Insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds have recently bought and sold shares of CRWD. Norges Bank acquired a new stake in CrowdStrike during the 4th quarter worth $683,336,000. Pathstone Holdings LLC acquired a new stake in shares of CrowdStrike during the fourth quarter worth about $450,418,000. Jennison Associates LLC lifted its holdings in shares of CrowdStrike by 33.2% during the 4th quarter. Jennison Associates LLC now owns 6,340,819 shares of the company’s stock valued at $1,618,938,000 after purchasing an additional 1,581,796 shares in the last quarter. Vanguard Group Inc. grew its position in shares of CrowdStrike by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock valued at $4,020,299,000 after purchasing an additional 1,028,405 shares during the period. Finally, International Assets Investment Management LLC increased its stake in CrowdStrike by 22,542.6% during the 4th quarter. International Assets Investment Management LLC now owns 734,300 shares of the company’s stock worth $187,481,000 after purchasing an additional 731,057 shares in the last quarter. 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.