JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $372.00 to $418.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.05% from the company’s previous close.

A number of other equities analysts also recently issued reports on CRWD. Truist Financial raised their price target on CrowdStrike from $325.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Wedbush set a $330.00 price target on CrowdStrike in a research note on Thursday, October 17th. BNP Paribas started coverage on CrowdStrike in a research report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 target price on the stock. Piper Sandler boosted their price target on CrowdStrike from $290.00 to $375.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Susquehanna boosted their price target on CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $358.00.

CrowdStrike Stock Performance

CRWD stock opened at $376.42 on Monday. The company has a market cap of $92.72 billion, a P/E ratio of 738.08, a price-to-earnings-growth ratio of 19.48 and a beta of 1.11. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The stock’s fifty day moving average price is $334.31 and its 200-day moving average price is $314.65.

Insider Buying and Selling at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the 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 sale, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $368.14, for a total value of $1,656,630.00. Following the completion of the sale, the insider now owns 115,798 shares in the company, valued at approximately $42,629,875.72. The trade was a 3.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,498 shares of company stock worth $45,599,730 over the last ninety days. Company insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Jennison Associates LLC raised its holdings in shares of CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after buying an additional 1,013,161 shares during the period. International Assets Investment Management LLC grew its stake in CrowdStrike by 17,926.3% in the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock worth $259,668,000 after purchasing an additional 920,695 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in CrowdStrike by 1,655.9% in the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock worth $212,021,000 after purchasing an additional 712,900 shares in the last quarter. Bank of New York Mellon Corp grew its stake in CrowdStrike by 47.5% in 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 purchasing an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in CrowdStrike by 248.6% in the third quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after purchasing an additional 371,695 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other 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.