CrowdStrike (NASDAQ:CRWD) Price Target Raised to $355.00 at Morgan Stanley

CrowdStrike (NASDAQ:CRWD) had its price objective increased by Morgan Stanley from $325.00 to $355.00 in a research note published on Monday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

CRWD has been the subject of a number of other reports. Citigroup decreased their price target on CrowdStrike from $345.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price target on shares of CrowdStrike in a report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of CrowdStrike in a report on Thursday, September 19th. BTIG Research cut shares of CrowdStrike from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Finally, Robert W. Baird reduced their price target on shares of CrowdStrike from $335.00 to $315.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-one have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, CrowdStrike presently has an average rating of “Moderate Buy” and an average price target of $334.33.

CrowdStrike Price Performance

CRWD stock opened at $357.55 on Monday. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The firm has a market capitalization of $87.65 billion, a P/E ratio of 518.19, a P/E/G ratio of 23.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day moving average is $305.77 and its two-hundred day moving average is $311.53.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a net margin of 4.84% and a return on equity of 8.44%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts anticipate that CrowdStrike will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, CEO George Kurtz sold 55,325 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total transaction of $16,410,501.50. Following the transaction, the chief executive officer now owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Anurag Saha sold 1,683 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $297.28, for a total value of $500,322.24. Following the transaction, the chief accounting officer now directly owns 38,962 shares in the company, valued at approximately $11,582,623.36. This represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock valued at $32,465,110 in the last ninety days. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Several institutional investors have recently added to or reduced their stakes in the business. Abich Financial Wealth Management LLC acquired a new stake in CrowdStrike in the 2nd quarter worth about $25,000. Family Firm Inc. purchased a new position in shares of CrowdStrike during the 2nd quarter worth about $30,000. Itau Unibanco Holding S.A. acquired a new stake in shares of CrowdStrike in the second quarter worth approximately $33,000. Unique Wealth Strategies LLC purchased a new stake in shares of CrowdStrike during the 2nd quarter valued at $36,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of CrowdStrike during the 2nd quarter worth $38,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.

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.