HSBC Downgrades CrowdStrike (NASDAQ:CRWD) to Hold

HSBC downgraded shares of CrowdStrike (NASDAQ:CRWD) from a buy rating to a hold rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $347.00 target price on the stock.

CRWD has been the subject of several other reports. Oppenheimer dropped their price objective on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Argus dropped their price target on shares of CrowdStrike from $400.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wedbush set a $330.00 price objective on shares of CrowdStrike in a research note on Thursday, October 17th. UBS Group dropped their target price on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Finally, DA Davidson restated a “buy” rating and set a $310.00 target price on shares of CrowdStrike in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $355.80.

CrowdStrike Price Performance

Shares of CRWD stock opened at $345.97 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.90 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $84.81 billion, a price-to-earnings ratio of 678.39, a PEG ratio of 25.16 and a beta of 1.10. The firm’s 50 day moving average is $315.80 and its 200-day moving average is $313.08. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.07. The firm had revenue of $963.87 million for the quarter, compared to the consensus estimate of $958.27 million. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Sell-side analysts forecast that CrowdStrike will post 0.49 EPS for the current fiscal year.

Insider Activity

In related news, Director Sameer K. Gandhi sold 6,250 shares of CrowdStrike stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $320.38, for a total transaction of $2,002,375.00. Following the completion of the sale, the director now directly owns 821,766 shares of the company’s stock, valued at approximately $263,277,391.08. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $260.73, for a total value of $1,173,285.00. Following the completion of the transaction, the insider now directly owns 174,591 shares in the company, valued at approximately $45,521,111.43. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 108,248 shares of company stock valued at $32,465,110. 4.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently made changes to their positions in CRWD. Arlington Financial Advisors LLC raised its holdings in CrowdStrike by 1.5% in the 2nd quarter. Arlington Financial Advisors LLC now owns 2,030 shares of the company’s stock valued at $778,000 after acquiring an additional 30 shares in the last quarter. Synergy Financial Group LTD increased its position in shares of CrowdStrike by 0.8% in the third quarter. Synergy Financial Group LTD now owns 3,950 shares of the company’s stock worth $1,108,000 after purchasing an additional 30 shares during the period. Sunpointe LLC raised its stake in CrowdStrike by 3.1% in the third quarter. Sunpointe LLC now owns 1,131 shares of the company’s stock valued at $317,000 after purchasing an additional 34 shares in the last quarter. Hilltop Holdings Inc. grew its stake in CrowdStrike by 1.8% during the third quarter. Hilltop Holdings Inc. now owns 1,932 shares of the company’s stock worth $542,000 after buying an additional 34 shares in the last quarter. Finally, Means Investment CO. Inc. increased its holdings in CrowdStrike by 1.8% in the 2nd quarter. Means Investment CO. Inc. now owns 1,933 shares of the company’s stock valued at $741,000 after buying an additional 35 shares during the period. 71.16% of the stock is currently 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.