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

CrowdStrike (NASDAQ:CRWD) had its price objective increased by Bank of America from $400.00 to $420.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on CRWD. HSBC cut shares of CrowdStrike from a “buy” rating to a “hold” rating and set a $347.00 target price for the company. in a report on Wednesday, November 27th. Baird R W lowered shares of CrowdStrike from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on CrowdStrike from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. UBS Group lowered CrowdStrike from a “buy” rating to a “cautious” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada upped their price target on CrowdStrike from $365.00 to $420.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.08.

CrowdStrike Price Performance

CRWD opened at $394.56 on Wednesday. The firm has a market cap of $97.18 billion, a PE ratio of 773.66, a P/E/G ratio of 17.86 and a beta of 1.16. The stock has a 50-day moving average price of $385.81 and a 200-day moving average price of $333.53. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $455.59. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

Insider Transactions at CrowdStrike

In related news, Director Gerhard Watzinger sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $348.93, for a total transaction of $10,467,900.00. Following the transaction, the director now directly owns 42,391 shares of the company’s stock, valued at approximately $14,791,491.63. The trade was a 41.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $368.14, for a total value of $1,656,630.00. Following the completion of the transaction, the insider now owns 115,798 shares in the company, valued at $42,629,875.72. This trade represents a 3.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,565 shares of company stock worth $51,038,529. 4.34% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Heck Capital Advisors LLC acquired a new stake in shares of CrowdStrike in the 4th quarter valued at $628,000. B. Riley Wealth Advisors Inc. grew its position in shares of CrowdStrike by 118.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 23,092 shares of the company’s stock worth $7,901,000 after buying an additional 12,521 shares during the period. Liberty Square Wealth Partners LLC bought a new stake in shares of CrowdStrike during the 4th quarter valued at $163,000. Great Valley Advisor Group Inc. lifted its stake in CrowdStrike by 17.5% in the fourth quarter. Great Valley Advisor Group Inc. now owns 8,331 shares of the company’s stock valued at $2,851,000 after buying an additional 1,240 shares during the period. Finally, Ameriflex Group Inc. bought a new position in CrowdStrike during the 4th quarter worth approximately $192,000. Institutional investors and hedge funds 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.