Bank of America Reaffirms Neutral Rating for CrowdStrike (NASDAQ:CRWD)

Bank of America restated their neutral rating on shares of CrowdStrike (NASDAQ:CRWD - Free Report) in a report published on Wednesday, MarketBeat.com reports. They currently have a $470.00 target price on the stock, up from their previous target price of $420.00.

Several other research firms also recently weighed in on CRWD. Barclays set a $500.00 target price on shares of CrowdStrike in a research report on Tuesday. Wedbush boosted their target price on shares of CrowdStrike from $475.00 to $525.00 and gave the stock an "outperform" rating in a research report on Tuesday. Scotiabank reaffirmed a "sector perform" rating on shares of CrowdStrike in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an "outperform" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, Raymond James lowered shares of CrowdStrike from an "outperform" rating to a "cautious" rating in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CrowdStrike has an average rating of "Moderate Buy" and a consensus target price of $450.43.

CrowdStrike Stock Up 1.2%

CrowdStrike stock traded up $5.47 during midday trading on Wednesday, hitting $468.41. 4,338,578 shares of the stock were exchanged, compared to its average volume of 5,114,296. The company has a 50 day moving average price of $415.18 and a two-hundred day moving average price of $388.02. The firm has a market cap of $116.11 billion, a P/E ratio of 918.47, a P/E/G 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. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86.

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

Insider Buying and Selling at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $484.59, for a total value of $3,028,687.50. Following the completion of the transaction, the director now owns 755,592 shares in the company, valued at approximately $366,152,327.28. The trade was a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $358.62, for a total value of $536,495.52. Following the completion of the transaction, the chief accounting officer now owns 36,165 shares of the company's stock, valued at approximately $12,969,492.30. This trade represents a 3.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 211,681 shares of company stock worth $87,081,236 in the last quarter. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of CrowdStrike by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock worth $8,051,011,000 after purchasing an additional 908,554 shares during the period. Jennison Associates LLC boosted its holdings in CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock valued at $2,314,785,000 after acquiring an additional 1,144,295 shares during the period. Geode Capital Management LLC boosted its holdings in CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after acquiring an additional 124,984 shares during the period. Norges Bank purchased a new position in CrowdStrike during the 4th quarter valued at $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in CrowdStrike by 52.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company's stock valued at $977,149,000 after acquiring an additional 955,529 shares during the period. Hedge funds and other institutional investors own 71.16% of the company's stock.

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.