BMO Capital Markets Forecasts Strong Price Appreciation for CrowdStrike (NASDAQ:CRWD) Stock

CrowdStrike (NASDAQ:CRWD) had its price target increased by BMO Capital Markets from $315.00 to $380.00 in a report issued on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. Oppenheimer reduced their price target on CrowdStrike from $450.00 to $365.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Scotiabank reduced their price objective on shares of CrowdStrike from $300.00 to $265.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of CrowdStrike from $350.00 to $275.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. CICC Research began coverage on shares of CrowdStrike in a research report on Monday, November 18th. They set a “market perform” rating and a $295.00 price target for the company. Finally, Susquehanna upped their price objective on CrowdStrike from $310.00 to $400.00 and gave the company a “positive” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $355.80.

CrowdStrike Price Performance

Shares of CRWD opened at $347.59 on Wednesday. The firm’s 50-day simple moving average is $313.47 and its two-hundred day simple moving average is $312.77. CrowdStrike has a fifty-two week low of $200.81 and a fifty-two week high of $398.33. The stock has a market cap of $85.20 billion, a PE ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.07. The company 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 8.44% and a net margin of 4.84%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 EPS. Analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In related news, President Michael Sentonas sold 10,776 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $297.28, for a total transaction of $3,203,489.28. Following the completion of the transaction, the president now owns 400,390 shares in the company, valued at approximately $119,027,939.20. This represents a 2.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction 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 directly owns 1,109,746 shares of the company’s stock, valued at $329,172,858.52. The trade was a 4.75 % decrease in their ownership of the stock. 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 over the last 90 days. Company insiders own 4.34% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of CrowdStrike by 25.0% during the 3rd 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. International Assets Investment Management LLC raised its stake in CrowdStrike by 17,926.3% during the third quarter. International Assets Investment Management LLC now owns 925,831 shares of the company’s stock valued at $259,668,000 after purchasing an additional 920,695 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in CrowdStrike by 1,655.9% during the third quarter. Daiwa Securities Group Inc. now owns 755,951 shares of the company’s stock valued at $212,021,000 after purchasing an additional 712,900 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CrowdStrike by 47.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,252 shares of the company’s stock worth $671,828,000 after buying an additional 564,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CrowdStrike by 248.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 521,198 shares of the company’s stock worth $146,180,000 after buying an additional 371,695 shares during the last quarter. 71.16% of the stock is owned by 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.