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

CrowdStrike (NASDAQ:CRWD) had its price target lifted by Bank of America from $365.00 to $400.00 in a research report sent to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts have also commented on CRWD. TD Cowen lowered their price target on shares of CrowdStrike from $400.00 to $380.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Evercore ISI increased their target price on shares of CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler restated an “overweight” rating and set a $290.00 price target on shares of CrowdStrike in a report on Thursday, September 19th. BNP Paribas assumed coverage on CrowdStrike in a report on Tuesday, October 8th. They issued a “neutral” rating and a $285.00 price objective for the company. Finally, Needham & Company LLC boosted their target price on CrowdStrike from $360.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Stock Down 4.6 %

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. The stock has a market capitalization of $85.20 billion, a P/E ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The stock’s 50-day moving average price is $313.47 and its 200-day moving average price is $312.77. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $958.27 million. CrowdStrike’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the company earned $0.06 EPS. On average, equities analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Shawn Henry sold 4,500 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 174,591 shares in the company, valued at $45,521,111.43. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the sale, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,248 shares of company stock worth $32,465,110. 4.34% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CrowdStrike

A number of large investors have recently made changes to their positions in the company. Abich Financial Wealth Management LLC purchased a new position in shares of CrowdStrike in the second quarter worth approximately $25,000. Family Firm Inc. purchased a new position in shares of CrowdStrike during the 2nd quarter worth $30,000. Itau Unibanco Holding S.A. bought a new stake in shares of CrowdStrike during the 2nd quarter valued at $33,000. Unique Wealth Strategies LLC purchased a new stake in shares of CrowdStrike in the 2nd quarter worth $36,000. Finally, Hobbs Group Advisors LLC bought a new position in CrowdStrike in the 2nd quarter worth $38,000. 71.16% of the stock is currently 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.