CrowdStrike (NASDAQ:CRWD) Price Target Cut to $499.00 by Analysts at BTIG Research

CrowdStrike (NASDAQ:CRWD) had its price target lowered by analysts at BTIG Research from $640.00 to $499.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 34.15% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley increased their price objective on CrowdStrike from $515.00 to $537.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Citigroup boosted their price target on CrowdStrike from $595.00 to $610.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Evercore lowered their target price on shares of CrowdStrike from $460.00 to $375.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. BNP Paribas Exane upped their price objective on shares of CrowdStrike from $350.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Barclays decreased their price target on CrowdStrike from $610.00 to $550.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Thirty-one investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $525.74.

CrowdStrike Stock Down 2.4%

CRWD stock opened at $371.98 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $93.78 billion, a P/E ratio of -295.22, a P/E/G ratio of 20.93 and a beta of 1.07. The business has a 50-day moving average of $438.69 and a 200-day moving average of $469.83. CrowdStrike has a fifty-two week low of $298.00 and a fifty-two week high of $566.90.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Wednesday, December 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. CrowdStrike had a negative return on equity of 2.12% and a negative net margin of 6.88%.The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $0.93 EPS. CrowdStrike’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts anticipate that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Johanna Flower sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $461.94, for a total value of $1,385,820.00. Following the transaction, the director owned 76,082 shares in the company, valued at approximately $35,145,319.08. The trade was a 3.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Sentonas sold 11,461 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $479.78, for a total transaction of $5,498,758.58. Following the completion of the sale, the president directly owned 342,655 shares in the company, valued at approximately $164,399,015.90. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,247 shares of company stock valued at $45,722,274 over the last three months. Insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its position in CrowdStrike by 44.9% in the 4th quarter. Brighton Jones LLC now owns 7,803 shares of the company’s stock valued at $2,670,000 after buying an additional 2,417 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of CrowdStrike by 3.6% in the 1st quarter. Empowered Funds LLC now owns 4,812 shares of the company’s stock worth $1,697,000 after buying an additional 169 shares during the last quarter. Hunter Associates Investment Management LLC purchased a new position in CrowdStrike in the second quarter worth $284,000. AlphaQuest LLC purchased a new stake in CrowdStrike during the second quarter worth about $26,000. Finally, Assetmark Inc. increased its stake in shares of CrowdStrike by 622.7% during the 2nd quarter. Assetmark Inc. now owns 4,560 shares of the company’s stock worth $2,322,000 after purchasing an additional 3,929 shares during the last quarter. Institutional investors and hedge funds own 71.16% of the company’s stock.

CrowdStrike Company Profile

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.