CrowdStrike (NASDAQ:CRWD) Rating Increased to Buy at HSBC

HSBC upgraded shares of CrowdStrike (NASDAQ:CRWD) from a hold rating to a buy rating in a research report released on Friday, Marketbeat.com reports. The brokerage currently has $339.00 price target on the stock, up from their previous price target of $302.00.

Several other research firms have also recently weighed in on CRWD. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CrowdStrike from $350.00 to $275.00 and set a hold rating for the company in a research note on Monday, August 26th. Barclays increased their price target on shares of CrowdStrike from $285.00 to $295.00 and gave the company an overweight rating in a research note on Thursday. Robert W. Baird decreased their price objective on shares of CrowdStrike from $335.00 to $315.00 and set an outperform rating on the stock in a report on Thursday. UBS Group decreased their price objective on shares of CrowdStrike from $330.00 to $310.00 and set a buy rating on the stock in a report on Thursday. Finally, Hsbc Global Res lowered shares of CrowdStrike from a strong-buy rating to a hold rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, CrowdStrike has an average rating of Moderate Buy and a consensus target price of $329.47.

CrowdStrike Stock Up 2.1 %

Shares of NASDAQ CRWD opened at $277.28 on Friday. CrowdStrike has a 12-month low of $145.38 and a 12-month high of $398.33. The stock has a market cap of $67.48 billion, a PE ratio of 523.18, a P/E/G ratio of 13.44 and a beta of 1.10. The company has a current ratio of 1.90, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $301.88 and a 200 day moving average of $318.05.

CrowdStrike (NASDAQ:CRWD) last posted 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 net margin of 4.84% and a return on equity of 8.44%. The business had revenue of $963.87 million during the quarter, compared to analysts’ expectations of $958.27 million. During the same quarter in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, sell-side analysts predict that CrowdStrike will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In other CrowdStrike news, CAO Anurag Saha sold 1,662 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $380.63, for a total value of $632,607.06. Following the sale, the chief accounting officer now directly owns 40,645 shares of the company’s stock, valued at approximately $15,470,706.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Shawn Henry sold 4,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $260.00, for a total value of $1,040,000.00. Following the transaction, the insider now directly owns 179,091 shares of the company’s stock, valued at approximately $46,563,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Anurag Saha sold 1,662 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $380.63, for a total transaction of $632,607.06. Following the completion of the transaction, the chief accounting officer now directly owns 40,645 shares in the company, valued at $15,470,706.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,219 shares of company stock valued at $48,856,294. Insiders own 4.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRWD. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC purchased a new position in CrowdStrike during the 4th quarter worth $26,000. Trivant Custom Portfolio Group LLC purchased a new position in CrowdStrike during the 1st quarter worth $30,000. Family Firm Inc. purchased a new position in CrowdStrike during the 2nd quarter worth $30,000. Finally, Johnson Financial Group Inc. purchased a new position in CrowdStrike during the 4th quarter worth $31,000. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.