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

CrowdStrike (NASDAQ:CRWD) had its price objective boosted by research analysts at Piper Sandler from $290.00 to $375.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 7.89% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. DA Davidson reiterated a “buy” rating and issued a $310.00 target price on shares of CrowdStrike in a research note on Wednesday, September 18th. Evercore ISI increased their price objective on CrowdStrike from $325.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday. The Goldman Sachs Group dropped their price objective on CrowdStrike from $400.00 to $295.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JMP Securities restated a “market outperform” rating and issued a $400.00 target price on shares of CrowdStrike in a research note on Monday, November 4th. Finally, Morgan Stanley lifted their price target on CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Stock Performance

NASDAQ:CRWD opened at $347.59 on Wednesday. CrowdStrike has a 52-week low of $200.81 and a 52-week high of $398.33. The business’s fifty day moving average is $314.88 and its 200 day moving average is $313.01. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $85.20 billion, a price-to-earnings ratio of 503.75, a PEG ratio of 26.33 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue was up 31.7% on a year-over-year basis. Research analysts predict that CrowdStrike will post 0.49 EPS for the current year.

Insider Transactions at CrowdStrike

In other news, CAO Anurag Saha sold 1,683 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $297.28, for a total value of $500,322.24. Following the sale, the chief accounting officer now directly owns 38,962 shares of the company’s stock, valued at $11,582,623.36. This represents a 4.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the transaction, the insider now directly owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,248 shares of company stock valued at $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of institutional investors and hedge funds have recently made changes to their positions in CRWD. State Street Corp grew its stake in shares of CrowdStrike by 2.9% in the 3rd quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after buying an additional 275,717 shares during the last quarter. Jennison Associates LLC boosted its holdings in CrowdStrike by 25.0% in the third quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock worth $1,421,646,000 after acquiring an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CrowdStrike by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after acquiring an additional 97,990 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of CrowdStrike by 3.0% during the second quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock valued at $785,425,000 after acquiring an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of CrowdStrike by 4.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock worth $696,471,000 after purchasing an additional 77,100 shares during the last quarter. 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.