Sanford C. Bernstein Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $327.00

CrowdStrike (NASDAQ:CRWD) had its price objective decreased by Sanford C. Bernstein from $334.00 to $327.00 in a research note released on Thursday, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their price target on CrowdStrike from $435.00 to $350.00 and set an overweight rating on the stock in a report on Monday, July 22nd. Piper Sandler raised CrowdStrike from a neutral rating to an overweight rating and reduced their target price for the company from $310.00 to $290.00 in a research note on Tuesday, August 6th. Oppenheimer dropped their price target on CrowdStrike from $450.00 to $365.00 and set an outperform rating for the company in a research note on Thursday, August 29th. UBS Group reduced their price objective on shares of CrowdStrike from $330.00 to $310.00 and set a buy rating on the stock in a research report on Thursday, August 29th. Finally, Truist Financial restated a buy rating and issued a $325.00 price objective on shares of CrowdStrike in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike presently has an average rating of Moderate Buy and a consensus target price of $327.16.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $246.39 on Thursday. 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 fifty-two week low of $157.59 and a fifty-two week high of $398.33. The firm has a market cap of $59.96 billion, a PE ratio of 464.89, a price-to-earnings-growth ratio of 13.44 and a beta of 1.09. The business has a 50 day moving average price of $289.69 and a 200-day moving average price of $315.77.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $958.27 million. During the same quarter in the prior year, the company posted $0.06 EPS. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities research analysts predict that CrowdStrike will post 0.81 earnings per share for the current year.

Insider Transactions at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total transaction of $1,040,000.00. Following the sale, the insider now directly owns 179,091 shares of the company’s stock, valued at $46,563,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Anurag Saha sold 1,662 shares of the 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 transaction, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $260.00, for a total value of $1,040,000.00. Following the completion of the sale, the insider now directly owns 179,091 shares of the company’s stock, valued at approximately $46,563,660. The disclosure for this sale can be found here. Insiders sold 130,219 shares of company stock worth $48,856,294 over the last quarter. 4.34% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of CrowdStrike in the 4th quarter worth approximately $683,336,000. Pathstone Holdings LLC purchased a new position in shares of CrowdStrike during the 4th quarter worth $450,418,000. Vanguard Group Inc. boosted its stake in shares of CrowdStrike by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock worth $4,020,299,000 after acquiring an additional 1,028,405 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CrowdStrike by 47.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock valued at $671,828,000 after acquiring an additional 564,662 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in CrowdStrike by 619.0% in the 1st quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock worth $177,865,000 after purchasing an additional 477,706 shares during the period. 71.16% of the stock is 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.