Royal Bank of Canada Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $365.00

CrowdStrike (NASDAQ:CRWD) had its price target cut by research analysts at Royal Bank of Canada from $370.00 to $365.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 6.23% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. TD Cowen cut their price objective on CrowdStrike from $400.00 to $380.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Robert W. Baird lifted their price target on shares of CrowdStrike from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial upped their price objective on shares of CrowdStrike from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. CICC Research began coverage on shares of CrowdStrike in a report on Monday, November 18th. They issued a “market perform” rating and a $295.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and set a $400.00 price target on shares of CrowdStrike in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.80.

CrowdStrike Trading Down 5.7 %

CRWD stock traded down $20.71 during trading on Wednesday, reaching $343.59. 5,644,623 shares of the stock were exchanged, compared to its average volume of 4,994,826. The business has a 50 day moving average price of $311.86 and a 200-day moving average price of $312.52. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $84.22 billion, a price-to-earnings ratio of 497.96, a P/E/G ratio of 26.33 and a beta of 1.10.

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

Insider Transactions at CrowdStrike

In other news, insider Shawn Henry sold 4,500 shares of CrowdStrike stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 174,591 shares in the company, valued at approximately $45,521,111.43. This trade represents a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameer K. Gandhi sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $320.38, for a total value of $2,002,375.00. Following the completion of the sale, the director now owns 821,766 shares in the company, valued at approximately $263,277,391.08. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 108,248 shares of company stock valued at $32,465,110. Corporate insiders own 4.34% of the company’s stock.

Institutional Investors Weigh In On CrowdStrike

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