CrowdStrike’s (CRWD) Buy Rating Reiterated at Rosenblatt Securities

CrowdStrike (NASDAQ:CRWD)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a note issued to investors on Thursday, Benzinga reports. They currently have a $325.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 16.15% from the company’s previous close.

A number of other research firms have also recently issued reports on CRWD. KeyCorp dropped their price objective on CrowdStrike from $440.00 to $420.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Westpark Capital reaffirmed a “hold” rating on shares of CrowdStrike in a research note on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $325.00 target price on shares of CrowdStrike in a research report on Monday, September 9th. DA Davidson restated a “buy” rating and set a $310.00 price target on shares of CrowdStrike in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of CrowdStrike from $435.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $327.03.

CrowdStrike Price Performance

Shares of CRWD traded up $12.68 during mid-day trading on Thursday, hitting $279.80. 4,448,695 shares of the stock were exchanged, compared to its average volume of 5,296,545. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $68.09 billion, a PE ratio of 529.89, a price-to-earnings-growth ratio of 16.14 and a beta of 1.09. CrowdStrike has a 52-week low of $157.59 and a 52-week high of $398.33. The firm has a 50-day moving average of $269.19 and a two-hundred day moving average of $312.63.

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. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The business had revenue of $963.87 million during the quarter, compared to analyst estimates of $958.27 million. During the same period last year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts predict that CrowdStrike will post 0.56 earnings per share for the current year.

Insider Activity at CrowdStrike

In other news, Director Roxanne S. Austin sold 10,000 shares of CrowdStrike stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the transaction, the director now directly owns 18,297 shares of the company’s stock, valued at approximately $7,136,012.97. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Roxanne S. Austin sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the transaction, the director now owns 18,297 shares in the company, valued at approximately $7,136,012.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Henry sold 4,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. The disclosure for this sale can be found here. Insiders sold 130,219 shares of company stock worth $48,306,394 over the last three months. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pathstone Holdings LLC acquired a new position in CrowdStrike in the 4th quarter valued at $450,418,000. Vanguard Group Inc. lifted its stake in shares of CrowdStrike by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 15,746,120 shares of the company’s stock worth $4,020,299,000 after buying an additional 1,028,405 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CrowdStrike by 47.5% during the second quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after acquiring an additional 564,662 shares during the last quarter. Acadian Asset Management LLC boosted its position in CrowdStrike by 619.0% during the first quarter. Acadian Asset Management LLC now owns 554,876 shares of the company’s stock worth $177,865,000 after acquiring an additional 477,706 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in CrowdStrike during the 4th quarter valued at about $100,459,000. Hedge funds and other institutional investors 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.