CrowdStrike (NASDAQ:CRWD) Given New $505.00 Price Target at Piper Sandler

CrowdStrike (NASDAQ:CRWD - Free Report) had its price target lifted by Piper Sandler from $400.00 to $505.00 in a research note published on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on CRWD. KeyCorp dropped their target price on shares of CrowdStrike from $480.00 to $450.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Cantor Fitzgerald lifted their target price on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. The Goldman Sachs Group reissued a "buy" rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Susquehanna lifted their target price on shares of CrowdStrike from $425.00 to $530.00 and gave the stock a "positive" rating in a research report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of CrowdStrike from $420.00 to $530.00 and gave the stock a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have issued a buy rating to the company. According to MarketBeat, CrowdStrike presently has an average rating of "Moderate Buy" and a consensus price target of $450.43.

CrowdStrike Stock Up 1.2%

Shares of CRWD traded up $5.47 during trading hours on Wednesday, hitting $468.41. The stock had a trading volume of 4,338,578 shares, compared to its average volume of 5,114,296. 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 50 day simple moving average of $415.18 and a 200-day simple moving average of $388.29. The firm has a market capitalization of $116.11 billion, a P/E ratio of 918.47, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $491.20.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company's quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Sell-side analysts predict that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Activity

In other news, Director Sameer K. Gandhi sold 6,250 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $484.59, for a total transaction of $3,028,687.50. Following the completion of the transaction, the director now directly owns 755,592 shares in the company, valued at $366,152,327.28. The trade was a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gerhard Watzinger sold 10,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the transaction, the director now owns 29,500 shares of the company's stock, valued at $14,425,500. This trade represents a 25.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,681 shares of company stock worth $87,081,236 in the last three months. Corporate insiders own 3.32% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRWD. Brighton Jones LLC grew its position in CrowdStrike by 44.9% in the fourth quarter. Brighton Jones LLC now owns 7,803 shares of the company's stock worth $2,670,000 after acquiring an additional 2,417 shares in the last quarter. DAVENPORT & Co LLC grew its position in CrowdStrike by 12.2% in the fourth quarter. DAVENPORT & Co LLC now owns 2,668 shares of the company's stock worth $913,000 after acquiring an additional 291 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in CrowdStrike in the fourth quarter worth $242,000. Trust Point Inc. purchased a new position in CrowdStrike in the fourth quarter worth $455,000. Finally, Mather Group LLC. grew its position in CrowdStrike by 32.5% in the fourth quarter. Mather Group LLC. now owns 657 shares of the company's stock worth $225,000 after acquiring an additional 161 shares in the last quarter. 71.16% of the stock is currently owned by hedge funds and other 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.