CrowdStrike (NASDAQ:CRWD) Given New $400.00 Price Target at Bank of America

CrowdStrike (NASDAQ:CRWD) had its target price lifted by stock analysts at Bank of America from $365.00 to $400.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective points to a potential upside of 9.80% from the stock’s previous close.

CRWD has been the topic of several other research reports. Susquehanna raised their price target on shares of CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of CrowdStrike in a report on Monday, September 30th. BNP Paribas assumed coverage on CrowdStrike in a report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price objective on the stock. BMO Capital Markets upped their target price on CrowdStrike from $290.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wedbush set a $330.00 price target on shares of CrowdStrike in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and a consensus price target of $346.43.

CrowdStrike Stock Performance

Shares of CRWD stock opened at $364.30 on Wednesday. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $398.33. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.26. The stock has a market cap of $89.30 billion, a PE ratio of 527.97, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The business has a 50-day simple moving average of $311.86 and a 200-day simple moving average of $312.52.

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

Insider Buying and Selling at CrowdStrike

In related news, Director Sameer K. Gandhi sold 5,036 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $320.48, for a total value of $1,613,937.28. Following the transaction, the director now owns 816,730 shares of the company’s stock, valued at $261,745,630.40. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $260.73, for a total value of $1,173,285.00. Following the sale, the insider now directly owns 174,591 shares of the company’s stock, valued at $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 108,248 shares of company stock valued at $32,465,110 in the last quarter. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock valued at $2,701,144,000 after acquiring an additional 275,717 shares during the last quarter. Jennison Associates LLC increased its position in shares of CrowdStrike by 25.0% during the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after purchasing an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock valued at $1,367,505,000 after acquiring an additional 97,990 shares during the period. Legal & General Group Plc raised its position in CrowdStrike by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after purchasing an additional 60,607 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in CrowdStrike by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after purchasing an additional 77,100 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.