CrowdStrike (NASDAQ:CRWD) Trading Up 1.8% Following Analyst Upgrade

Key Points

• CrowdStrike's shares increased by 1.8% following an analyst upgrade from Jefferies, which raised its price target from $520 to $530.
• Several analysts have recently increased their price targets for CrowdStrike, with Stifel Nicolaus increasing theirs to $495 and Susquehanna to $530, while maintaining buy ratings.
• CEO George Kurtz and President Michael Sentonas sold significant amounts of their shares, indicating a 2.47% and 5.59% decrease in their ownership, respectively.
• CrowdStrike reported a quarterly EPS of $0.73, exceeding the consensus estimate, with revenue showing a year-over-year increase of 19.8%.

CrowdStrike (NASDAQ:CRWD - Get Free Report)'s share price traded up 1.8% during trading on Friday after Jefferies Financial Group raised their price target on the stock from $520.00 to $530.00. Jefferies Financial Group currently has a buy rating on the stock. CrowdStrike traded as high as $470.00 and last traded at $470.51. 571,671 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 3,813,121 shares. The stock had previously closed at $462.03.

A number of other equities research analysts have also recently issued reports on CRWD. Bank of America reiterated a "neutral" rating and issued a $470.00 target price (up from $420.00) on shares of CrowdStrike in a research note on Wednesday, June 4th. Wells Fargo & Company lifted their price objective on shares of CrowdStrike from $430.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 2nd. Citigroup restated an "outperform" rating on shares of CrowdStrike in a research note on Monday, May 5th. Cfra restated a "hold" rating and set a $555.00 price objective (up from $517.00) on shares of CrowdStrike in a research note on Thursday, July 10th. Finally, Scotiabank lifted their target price on CrowdStrike from $370.00 to $480.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $461.17.

Insider Activity at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,768 shares of CrowdStrike stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $491.77, for a total value of $869,449.36. Following the completion of the transaction, the chief accounting officer directly owned 41,251 shares of the company's stock, valued at $20,286,004.27. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Sentonas sold 11,527 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $471.20, for a total value of $5,431,522.40. Following the transaction, the president directly owned 410,677 shares of the company's stock, valued at $193,511,002.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 241,820 shares of company stock valued at $113,297,985 over the last 90 days. Insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On CrowdStrike

A number of institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its stake in shares of CrowdStrike by 91.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 71 shares of the company's stock valued at $36,000 after purchasing an additional 34 shares during the period. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike in the 1st quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in shares of CrowdStrike in the 1st quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in CrowdStrike by 114.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after buying an additional 40 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in CrowdStrike by 305.3% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock worth $27,000 after buying an additional 58 shares during the period. Institutional investors own 71.16% of the company's stock.

CrowdStrike Trading Up 1.3%

The business has a 50 day moving average of $477.89 and a two-hundred day moving average of $419.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.85 and a current ratio of 1.85. The firm has a market capitalization of $116.63 billion, a price-to-earnings ratio of -678.14 and a beta of 1.16.

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

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.