Royal Bank of Canada Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its target price boosted by investment analysts at Royal Bank of Canada from $365.00 to $420.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 16.99% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BNP Paribas began coverage on CrowdStrike in a research report on Tuesday, October 8th. They set a “neutral” rating and a $285.00 price target for the company. Hsbc Global Res lowered CrowdStrike from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 27th. BMO Capital Markets upped their price objective on shares of CrowdStrike from $315.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Citigroup raised their price target on shares of CrowdStrike from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, CICC Research began coverage on CrowdStrike in a research note on Monday, November 18th. They issued a “market perform” rating and a $295.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $365.63.

CrowdStrike Trading Up 3.4 %

Shares of CRWD stock opened at $359.02 on Friday. 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 firm has a market cap of $88.43 billion, a P/E ratio of 703.97, a PEG 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 firm’s 50-day simple moving average is $346.72 and its 200-day simple moving average is $314.90.

Insider Buying and Selling

In other news, Director Sameer K. Gandhi sold 6,250 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the completion of the sale, the director now directly owns 821,766 shares of the company’s stock, valued at $263,277,391.08. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Michael Sentonas sold 10,801 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $358.47, for a total value of $3,871,834.47. Following the sale, the president now directly owns 389,589 shares in the company, valued at $139,655,968.83. This trade represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,601 shares of company stock worth $40,755,368. Corporate insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike during the 2nd quarter worth approximately $25,000. Itau Unibanco Holding S.A. purchased a new position in shares of CrowdStrike during the second quarter valued at $33,000. Fairfield Financial Advisors LTD acquired a new position in CrowdStrike during the second quarter valued at $38,000. Strategic Investment Solutions Inc. IL purchased a new stake in CrowdStrike in the 2nd quarter worth about $38,000. Finally, Oakworth Capital Inc. acquired a new stake in CrowdStrike during the 3rd quarter worth about $28,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.