Wedbush Issues Positive Forecast for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD - Free Report) had its target price hoisted by Wedbush from $475.00 to $525.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently weighed in on CRWD. Truist Financial reduced their price target on shares of CrowdStrike from $460.00 to $450.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. JMP Securities boosted their price objective on shares of CrowdStrike from $400.00 to $500.00 and gave the company a "market outperform" rating in a research report on Monday, May 5th. Royal Bank of Canada reiterated an "outperform" rating on shares of CrowdStrike in a research report on Wednesday, March 5th. Mizuho cut shares of CrowdStrike from an "outperform" rating to a "neutral" rating and set a $425.00 price objective on the stock. in a research report on Thursday, May 15th. Finally, Canaccord Genuity Group boosted their price objective on shares of CrowdStrike from $370.00 to $420.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, CrowdStrike presently has an average rating of "Moderate Buy" and an average price target of $449.38.

CrowdStrike Price Performance

CRWD traded down $28.20 during trading hours on Tuesday, hitting $460.56. The company's stock had a trading volume of 15,420,133 shares, compared to its average volume of 5,154,916. The business's 50-day moving average price is $408.78 and its 200-day moving average price is $385.89. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $491.20. The stock has a market cap of $114.16 billion, a price-to-earnings ratio of 903.08, a P/E/G ratio of 17.86 and a beta of 1.22. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.24.

CrowdStrike (NASDAQ:CRWD - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. CrowdStrike's quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Anurag Saha sold 1,496 shares of CrowdStrike stock in a transaction on Friday, March 21st. The stock was 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 in the company, valued at $12,969,492.30. The trade was a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction on Monday, March 17th. The stock was sold at an average price of $353.00, for a total value of $1,588,500.00. Following the transaction, the insider now owns 89,714 shares in the company, valued at approximately $31,669,042. This represents a 4.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,681 shares of company stock valued at $87,081,236 in the last 90 days. 3.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cloud Capital Management LLC purchased a new position in shares of CrowdStrike during the 1st quarter worth $25,000. Vision Financial Markets LLC purchased a new position in shares of CrowdStrike during the 1st quarter worth $26,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 40 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of 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 acquiring an additional 58 shares during the period. Finally, FPC Investment Advisory Inc. raised its holdings in CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company's stock valued at $28,000 after buying an additional 73 shares during the period. 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.