CrowdStrike (NASDAQ:CRWD) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

CrowdStrike (NASDAQ:CRWD - Free Report) had its price target hoisted by Needham & Company LLC from $420.00 to $530.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently commented on CRWD. Royal Bank of Canada restated an "outperform" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Wedbush lifted their target price on CrowdStrike from $475.00 to $525.00 and gave the company an "outperform" rating in a research report on Tuesday. Barclays set a $500.00 price objective on CrowdStrike in a research note on Tuesday. Evercore ISI upped their target price on shares of CrowdStrike from $400.00 to $450.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group reissued a "hold" rating and set a $475.00 price target (up from $420.00) on shares of CrowdStrike in a research report on Wednesday. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, CrowdStrike presently has a consensus rating of "Moderate Buy" and a consensus price target of $449.38.

CrowdStrike Price Performance

Shares of NASDAQ:CRWD traded up $2.38 during trading on Wednesday, hitting $462.94. 6,174,926 shares of the company were exchanged, compared to its average volume of 5,159,022. The business's 50 day moving average is $410.85 and its 200-day moving average is $386.40. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $491.20. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $114.75 billion, a P/E ratio of 907.74, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last posted its quarterly earnings data 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. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company posted $0.93 earnings per share. CrowdStrike's revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Shawn Henry sold 4,500 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $353.00, for a total transaction of $1,588,500.00. Following the completion of the transaction, the insider now directly owns 89,714 shares in the company, valued at $31,669,042. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerhard Watzinger sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $489.00, for a total value of $4,890,000.00. Following the completion of the sale, the director now directly owns 29,500 shares in the company, valued at approximately $14,425,500. The trade was a 25.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock worth $87,081,236 in the last three months. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CRWD. Norges Bank purchased a new position in CrowdStrike in the 4th quarter worth approximately $1,111,542,000. Nuveen LLC purchased a new stake in shares of CrowdStrike during the 1st quarter valued at $595,766,000. Jennison Associates LLC lifted its holdings 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 worth $2,314,785,000 after acquiring an additional 1,144,295 shares during the last quarter. GAMMA Investing LLC grew its position in CrowdStrike by 50,536.2% in the first quarter. GAMMA Investing LLC now owns 1,086,652 shares of the company's stock worth $383,132,000 after acquiring an additional 1,084,506 shares in the last quarter. Finally, Pathstone Holdings LLC grew its position in CrowdStrike by 379.0% in the fourth quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock worth $440,116,000 after acquiring an additional 1,017,678 shares in the last quarter. 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.