CrowdStrike (NASDAQ:CRWD) Stock Price Up 1.8% on Analyst Upgrade

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares rose 1.8% on Wednesday after The Goldman Sachs Group raised their price target on the stock from $389.00 to $530.00. The Goldman Sachs Group currently has a buy rating on the stock. CrowdStrike traded as high as $479.48 and last traded at $476.04. Approximately 1,067,570 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 5,036,702 shares. The stock had previously closed at $467.65.

CRWD has been the subject of several other reports. Citigroup reissued an “outperform” rating on shares of CrowdStrike in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on CrowdStrike from $418.00 to $450.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Stifel Nicolaus increased their price objective on CrowdStrike from $480.00 to $495.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Needham & Company LLC increased their price objective on CrowdStrike from $420.00 to $530.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, BTIG Research restated a “buy” rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. According to MarketBeat, CrowdStrike currently has a consensus rating of “Moderate Buy” and an average target price of $453.17.

Insider Buying and Selling

In other CrowdStrike news, President Michael Sentonas sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total value of $11,925,000.00. Following the completion of the sale, the president now owns 422,204 shares of the company’s stock, valued at approximately $201,391,308. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sameer K. Gandhi sold 6,250 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $324.16, for a total value of $2,026,000.00. Following the completion of the sale, the director now directly owns 768,092 shares of the company’s stock, valued at $248,984,702.72. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,361 shares of company stock valued at $106,359,058 over the last 90 days. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRWD. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike during the 1st quarter worth $25,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 40 shares during the period. Vision Financial Markets LLC bought a new stake in shares of CrowdStrike during the 1st quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. grew its position in CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its stake in CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock worth $28,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Price Performance

The firm has a market capitalization of $119.41 billion, a P/E ratio of 944.59, a price-to-earnings-growth ratio of 17.86 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The business has a 50 day simple moving average of $425.70 and a two-hundred day simple moving average of $391.11.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, sell-side analysts expect that CrowdStrike Holdings, Inc. will post 0.55 EPS for the current fiscal year.

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.