Morgan Stanley Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD - Get Free Report) had its target price increased by investment analysts at Morgan Stanley from $455.00 to $490.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 5.85% from the company's current price.

A number of other analysts have also issued reports on CRWD. JPMorgan Chase & Co. raised their target price on CrowdStrike from $418.00 to $450.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Robert W. Baird lowered their target price on CrowdStrike from $440.00 to $405.00 and set a "neutral" rating on the stock in a report on Wednesday, March 5th. BTIG Research reaffirmed a "buy" rating on shares of CrowdStrike in a report on Thursday, May 22nd. DA Davidson lifted their price objective on CrowdStrike from $415.00 to $530.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Raymond James lowered CrowdStrike from an "outperform" rating to a "cautious" rating in a report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $449.38.

CrowdStrike Stock Up 0.5%

Shares of CRWD traded up $2.38 during midday trading on Wednesday, reaching $462.94. 6,174,926 shares of the stock were exchanged, compared to its average volume of 5,115,577. The firm has a 50 day simple moving average of $410.85 and a 200-day simple moving average of $386.40. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. CrowdStrike has a 12-month low of $200.81 and a 12-month high of $491.20. The company has a market cap of $114.75 billion, a price-to-earnings ratio of 907.74, a P/E/G ratio of 17.86 and a beta of 1.22.

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

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,496 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 36,165 shares in the company, valued at $12,969,492.30. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Burt W. Podbere sold 13,529 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $358.10, for a total value of $4,844,734.90. Following the transaction, the chief financial officer now owns 244,739 shares of the company's stock, valued at approximately $87,641,035.90. The trade was a 5.24% 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 over the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of CrowdStrike by 4.1% during the first quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company's stock worth $8,051,011,000 after buying an additional 908,554 shares in the last quarter. Jennison Associates LLC boosted its position in CrowdStrike by 21.1% during the first 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. Geode Capital Management LLC boosted its position in CrowdStrike by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after purchasing an additional 124,984 shares during the last quarter. Norges Bank acquired a new position in CrowdStrike during the fourth quarter valued at approximately $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CrowdStrike by 52.6% during the first 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 purchasing an additional 955,529 shares during the last quarter. 71.16% of the stock is currently owned by 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.