Rosenblatt Securities Reiterates Buy Rating for CrowdStrike (NASDAQ:CRWD)

CrowdStrike (NASDAQ:CRWD)‘s stock had its “buy” rating restated by Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $450.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 6.50% from the stock’s current price.

CRWD has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of CrowdStrike from $418.00 to $450.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Evercore ISI increased their target price on CrowdStrike from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Stephens initiated coverage on CrowdStrike in a research report on Tuesday, April 1st. They set an “overweight” rating and a $450.00 target price for the company. Canaccord Genuity Group upped their price target on CrowdStrike from $370.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $403.20.

CrowdStrike Trading Down 4.7 %

CRWD stock opened at $422.52 on Thursday. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $455.59. The company has a market cap of $104.73 billion, a P/E ratio of 828.49, a PEG ratio of 17.86 and a beta of 1.22. The business has a fifty day moving average of $374.68 and a 200-day moving average of $368.18.

Insider Activity

In other CrowdStrike news, CAO Anurag Saha sold 1,496 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total transaction of $536,495.52. Following the transaction, the chief accounting officer now owns 36,165 shares of the company’s stock, valued at $12,969,492.30. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Burt W. Podbere sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $436.88, for a total value of $6,990,080.00. Following the completion of the sale, the chief financial officer now directly owns 249,653 shares of the company’s stock, valued at approximately $109,068,402.64. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 214,431 shares of company stock valued at $86,974,223 in the last quarter. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in CrowdStrike in the 4th quarter valued at about $1,111,542,000. Jennison Associates LLC increased its position in CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after buying an additional 1,144,295 shares during the period. GAMMA Investing LLC lifted its holdings in shares of CrowdStrike by 50,536.2% during the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company’s stock worth $383,132,000 after buying an additional 1,084,506 shares in the last quarter. Pathstone Holdings LLC grew its stake in shares of CrowdStrike by 379.0% in the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company’s stock valued at $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of CrowdStrike during the 4th quarter worth approximately $237,375,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.