Wells Fargo & Company Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD - Free Report) had its price target upped by Wells Fargo & Company from $430.00 to $550.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has an overweight rating on the stock.

CRWD has been the topic of several other reports. Scotiabank reaffirmed a "sector perform" rating on shares of CrowdStrike in a report on Wednesday, February 5th. Evercore ISI boosted their target price on CrowdStrike from $400.00 to $450.00 and gave the company an "outperform" rating in a research report on Wednesday, March 5th. Roth Capital initiated coverage on CrowdStrike in a report on Wednesday, April 23rd. They issued a "buy" rating and a $410.00 price target for the company. Guggenheim reiterated a "neutral" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of CrowdStrike in a report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $449.38.

CrowdStrike Stock Up 0.3%

Shares of CrowdStrike stock traded up $1.51 on Monday, reaching $462.07. The company's stock had a trading volume of 4,552,297 shares, compared to its average volume of 4,066,487. The company has a market capitalization of $114.53 billion, a price-to-earnings ratio of 904.97, a P/E/G ratio of 17.86 and a beta of 1.22. The firm's fifty day simple moving average is $410.85 and its two-hundred day simple moving average is $386.40. CrowdStrike has a 52 week low of $200.81 and a 52 week 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.

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

Insider Buying and Selling at CrowdStrike

In related news, CAO Anurag Saha sold 1,496 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $358.62, for a total value of $536,495.52. Following the transaction, the chief accounting officer now directly owns 36,165 shares of the company's stock, valued at $12,969,492.30. This represents 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, Director Sameer K. Gandhi sold 6,250 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $324.16, for a total value 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. The trade was a 0.81% 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 90 days. Company insiders own 3.32% of the company's stock.

Institutional Investors Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of CrowdStrike during the 4th quarter worth about $1,111,542,000. Nuveen LLC purchased a new stake in shares of CrowdStrike during the 1st quarter worth about $595,766,000. Jennison Associates LLC boosted its stake 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of CrowdStrike by 50,536.2% during the 1st 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 lifted its stake in CrowdStrike by 379.0% in the 4th quarter. Pathstone Holdings LLC now owns 1,286,200 shares of the company's stock valued at $440,116,000 after buying an additional 1,017,678 shares in the last quarter. 71.16% of the stock is owned by institutional investors and hedge funds.

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.