Piper Sandler Boosts CrowdStrike (NASDAQ:CRWD) Price Target to $375.00

CrowdStrike (NASDAQ:CRWD) had its price target increased by equities research analysts at Piper Sandler from $290.00 to $375.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 8.20% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada reduced their target price on shares of CrowdStrike from $345.00 to $335.00 and set an “outperform” rating on the stock in a research note on Thursday, August 29th. Susquehanna upped their target price on shares of CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a research report on Wednesday. Scotiabank reduced their price target on CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, CrowdStrike has a consensus rating of “Moderate Buy” and an average price target of $353.80.

CrowdStrike Price Performance

Shares of CRWD traded down $17.73 during mid-day trading on Wednesday, hitting $346.57. 4,476,545 shares of the company traded hands, compared to its average volume of 4,987,993. 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 stock has a market capitalization of $84.95 billion, a price-to-earnings ratio of 502.28, a PEG ratio of 26.33 and a beta of 1.10. The business has a 50-day moving average of $311.86 and a 200 day moving average of $312.52. CrowdStrike has a one year low of $200.81 and a one year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. As a group, equities analysts expect that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In related news, insider Shawn Henry sold 4,000 shares of CrowdStrike stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $340.44, for a total transaction of $1,361,760.00. Following the completion of the transaction, the insider now owns 120,298 shares in the company, valued at approximately $40,954,251.12. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Anurag Saha sold 1,683 shares of the business’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 $500,322.24. Following the transaction, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Tri Ri Asset Management Corp bought a new position in shares of CrowdStrike in the third quarter valued at about $5,456,000. Peapack Gladstone Financial Corp acquired a new position in CrowdStrike in the 3rd quarter valued at about $497,000. Tidal Investments LLC raised its holdings in CrowdStrike by 7.5% in the 3rd quarter. Tidal Investments LLC now owns 24,813 shares of the company’s stock valued at $6,959,000 after acquiring an additional 1,740 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in CrowdStrike during the third quarter worth approximately $1,319,000. Finally, World Investment Advisors LLC boosted its holdings in shares of CrowdStrike by 24.7% during the third quarter. World Investment Advisors LLC now owns 2,514 shares of the company’s stock worth $705,000 after acquiring an additional 498 shares during the period. 71.16% of the stock is owned by 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.