CrowdStrike (NASDAQ:CRWD) Given New $420.00 Price Target at Needham & Company LLC

CrowdStrike (NASDAQ:CRWD) had its price objective hoisted by analysts at Needham & Company LLC from $360.00 to $420.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 15.29% from the stock’s current price.

Several other equities research analysts also recently weighed in on CRWD. Barclays upped their price target on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Truist Financial upped their price target on CrowdStrike from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft cut their price target on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a report on Monday, August 26th. DA Davidson restated a “buy” rating and set a $310.00 price target on shares of CrowdStrike in a report on Wednesday, September 18th. Finally, BMO Capital Markets upped their price target on CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $340.82.

CrowdStrike Price Performance

CRWD stock opened at $364.30 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $89.30 billion, a PE ratio of 527.97, a P/E/G ratio of 26.33 and a beta of 1.10. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33. The business’s fifty day moving average price is $311.86 and its 200 day moving average price is $312.52.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. On average, sell-side analysts anticipate that CrowdStrike will post 0.49 EPS for the current year.

Insiders Place Their Bets

In other news, President Michael Sentonas sold 10,776 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $3,203,489.28. Following the completion of the sale, the president now directly owns 400,390 shares of the company’s stock, valued at $119,027,939.20. This trade represents a 2.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the completion of the sale, the chief executive officer now directly owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by company insiders.

Institutional Trading of CrowdStrike

Hedge funds have recently modified their holdings of the business. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike in the 2nd quarter valued at approximately $25,000. Oakworth Capital Inc. purchased a new position in CrowdStrike in the 3rd quarter valued at approximately $28,000. Tsfg LLC increased its stake in CrowdStrike by 593.3% in the 3rd quarter. Tsfg LLC now owns 104 shares of the company’s stock valued at $29,000 after purchasing an additional 89 shares in the last quarter. Family Firm Inc. purchased a new position in CrowdStrike in the 2nd quarter valued at approximately $30,000. Finally, Castleview Partners LLC purchased a new position in CrowdStrike in the 3rd quarter valued at approximately $32,000. 71.16% of the stock is owned by institutional investors and hedge funds.

CrowdStrike Company Profile

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.