Evercore ISI Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $425.00

Key Points

• Evercore ISI has lowered CrowdStrike's target price from $440.00 to $425.00, indicating a potential downside of 0.14% from its previous close.
• Despite the downgrade, the consensus rating for CrowdStrike remains a "Moderate Buy", with an average price target of $460.81 derived from various analysts.
• Insider trading activity shows that CFO Burt W. Podbere sold over 11,883 shares recently, indicating a 4.89% decrease in his position in the company.

CrowdStrike (NASDAQ:CRWD - Get Free Report) had its target price cut by equities researchers at Evercore ISI from $440.00 to $425.00 in a research report issued on Monday, MarketBeat reports. The brokerage currently has an "in-line" rating on the stock. Evercore ISI's target price would indicate a potential upside of 0.46% from the company's current price.

A number of other equities analysts also recently weighed in on CRWD. Cantor Fitzgerald boosted their price target on shares of CrowdStrike from $440.00 to $475.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. DZ Bank downgraded shares of CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 price target on the stock. in a report on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on shares of CrowdStrike from $500.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Westpark Capital reaffirmed a "hold" rating on shares of CrowdStrike in a report on Thursday, June 5th. Finally, Jefferies Financial Group boosted their price objective on CrowdStrike from $520.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, CrowdStrike has a consensus rating of "Moderate Buy" and an average target price of $460.81.

CrowdStrike Stock Performance

Shares of NASDAQ:CRWD traded down $4.85 during midday trading on Monday, reaching $423.05. The company had a trading volume of 713,902 shares, compared to its average volume of 3,700,013. The company's 50 day moving average price is $472.79 and its 200 day moving average price is $427.21. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The stock has a market cap of $105.45 billion, a P/E ratio of -613.83 and a beta of 1.13. CrowdStrike has a 52-week low of $242.25 and a 52-week high of $517.98.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. As a group, sell-side analysts anticipate that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insider Transactions at CrowdStrike

In other CrowdStrike news, CFO Burt W. Podbere sold 11,883 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $455.47, for a total value of $5,412,350.01. Following the completion of the transaction, the chief financial officer owned 231,130 shares of the company's stock, valued at approximately $105,272,781.10. The trade was a 4.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Denis Oleary sold 15,680 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $468.93, for a total value of $7,352,822.40. Following the completion of the transaction, the director directly owned 36,906 shares of the company's stock, valued at approximately $17,306,330.58. This trade represents a 29.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 214,414 shares of company stock worth $101,484,738 over the last quarter. Corporate insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On CrowdStrike

Hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC increased its position in shares of CrowdStrike by 54,635.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,293,484 shares of the company's stock valued at $2,186,714,000 after purchasing an additional 4,285,640 shares during the last quarter. Norges Bank purchased a new stake in shares of CrowdStrike during the 2nd quarter valued at about $1,638,365,000. Nuveen LLC purchased a new stake in shares of CrowdStrike during the 1st quarter valued at about $595,766,000. Jennison Associates LLC increased its position in shares of 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 purchasing an additional 1,144,295 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CrowdStrike by 50,536.2% during the 1st quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock valued at $383,132,000 after purchasing an additional 1,084,506 shares during the last quarter. Hedge funds and other institutional investors 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.