CrowdStrike (NASDAQ:CRWD) Trading 1.6% Higher - What's Next?

CrowdStrike (NASDAQ:CRWD - Get Free Report) traded up 1.6% during mid-day trading on Thursday . The company traded as high as $504.67 and last traded at $502.22. 980,389 shares were traded during mid-day trading, a decline of 80% from the average session volume of 4,782,813 shares. The stock had previously closed at $494.09.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CRWD. Bank of America reaffirmed a "neutral" rating and set a $470.00 target price (up from $420.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Oppenheimer raised their price objective on CrowdStrike from $410.00 to $520.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on CrowdStrike from $418.00 to $450.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Rosenblatt Securities increased their target price on CrowdStrike from $450.00 to $515.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Royal Bank Of Canada boosted their price target on CrowdStrike from $500.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company's stock. Based on data from MarketBeat, CrowdStrike presently has an average rating of "Moderate Buy" and an average target price of $453.88.

CrowdStrike Stock Performance

The stock has a market capitalization of $124.46 billion, a P/E ratio of -723.67 and a beta of 1.16. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $449.61 and a two-hundred day moving average price of $400.24.

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

Insider Buying and Selling

In other news, CAO Anurag Saha sold 1,768 shares of the company's stock in a transaction dated 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 now directly owns 41,251 shares in the company, valued at approximately $20,286,004.27. This represents a 4.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameer K. Gandhi sold 6,250 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $324.16, for a total value of $2,026,000.00. Following the completion of the sale, the director now owns 768,092 shares of the company's stock, valued at $248,984,702.72. The trade was a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,821 shares of company stock worth $108,501,609 over the last ninety days. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

A number of large investors have recently added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new stake in shares of CrowdStrike in the 1st quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC increased its stake in CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company's stock worth $26,000 after purchasing an additional 40 shares during the period. Vision Financial Markets LLC purchased a new position in CrowdStrike in the 1st quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. lifted its position in CrowdStrike by 305.3% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of CrowdStrike in the first quarter worth approximately $30,000. 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.