CrowdStrike (NASDAQ:CRWD) Given New $400.00 Price Target at Wells Fargo & Company

CrowdStrike (NASDAQ:CRWD) had its price objective upped by Wells Fargo & Company from $350.00 to $400.00 in a research report sent to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on CRWD. Citigroup upped their target price on shares of CrowdStrike from $300.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on CrowdStrike from $315.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays raised their target price on CrowdStrike from $295.00 to $372.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. CICC Research started coverage on CrowdStrike in a research report on Monday, November 18th. They issued a “market perform” rating and a $295.00 price target on the stock. Finally, Wedbush set a $330.00 price objective on CrowdStrike in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD opened at $347.59 on Wednesday. The firm has a market capitalization of $85.20 billion, a PE ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10. 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 1-year low of $200.81 and a 1-year high of $398.33. The business’s 50 day moving average is $313.47 and its 200-day moving average is $312.77.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the company earned $0.06 earnings per share. The business’s revenue was up 31.7% compared to the same quarter last year. Sell-side analysts predict that CrowdStrike will post 0.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shawn Henry sold 4,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $340.44, for a total value of $1,361,760.00. Following the sale, the insider now directly owns 120,298 shares in the company, valued at $40,954,251.12. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Anurag Saha sold 1,683 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $500,322.24. Following the transaction, the chief accounting officer now owns 38,962 shares of the company’s stock, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock valued at $32,465,110 over the last three months. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

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