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

CrowdStrike (NASDAQ:CRWD - Get Free Report) had its price objective increased by equities researchers at Oppenheimer from $410.00 to $520.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 12.33% from the stock's previous close.

Several other research firms have also issued reports on CRWD. Piper Sandler set a $347.00 price target on shares of CrowdStrike in a research report on Wednesday, March 5th. Citigroup reiterated an "outperform" rating on shares of CrowdStrike in a research report on Monday, May 5th. UBS Group reiterated a "buy" rating on shares of CrowdStrike in a research report on Tuesday. Bank of America restated a "neutral" rating and set a $470.00 target price (up previously from $420.00) on shares of CrowdStrike in a research report on Wednesday. Finally, DZ Bank lowered CrowdStrike from a "strong-buy" rating to a "strong sell" rating and set a $370.00 target price on the stock. in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, CrowdStrike presently has an average rating of "Moderate Buy" and an average price target of $449.38.

CrowdStrike Stock Performance

NASDAQ:CRWD traded up $2.38 during mid-day trading on Wednesday, hitting $462.94. The stock had a trading volume of 6,174,926 shares, compared to its average volume of 5,115,577. CrowdStrike has a twelve month low of $200.81 and a twelve month high of $491.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market cap of $114.75 billion, a price-to-earnings ratio of 907.74, a PEG ratio of 17.86 and a beta of 1.22. The company's 50 day simple moving average is $410.85 and its 200 day simple moving average is $386.40.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating 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 firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the firm earned $0.93 EPS. The business's revenue was up 19.8% on a year-over-year basis. On average, equities research analysts forecast that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Buying and Selling at CrowdStrike

In other news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $324.16, for a total transaction of $2,026,000.00. Following the completion of the transaction, the director now directly owns 768,092 shares in the company, valued at approximately $248,984,702.72. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $358.62, for a total transaction of $536,495.52. Following the transaction, the chief accounting officer now owns 36,165 shares of the company's stock, valued at $12,969,492.30. The trade was a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,681 shares of company stock valued at $87,081,236. 3.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds have recently added to or reduced their stakes in CRWD. Vanguard Group Inc. lifted 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 valued at $8,051,011,000 after purchasing an additional 908,554 shares in the last quarter. Jennison Associates LLC raised its position in CrowdStrike by 21.1% in the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company's stock worth $2,314,785,000 after buying an additional 1,144,295 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company's stock valued at $1,712,063,000 after acquiring an additional 124,984 shares during the last quarter. Norges Bank purchased a new stake in shares of CrowdStrike during the 4th quarter valued at about $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CrowdStrike by 52.6% in 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 worth $977,149,000 after acquiring an additional 955,529 shares during the period. 71.16% of the stock is currently owned by hedge funds and other 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.