BTIG Research Lowers CrowdStrike (NASDAQ:CRWD) Price Target to $499.00

CrowdStrike (NASDAQ:CRWD) had its price target dropped by investment analysts at BTIG Research from $640.00 to $499.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 34.15% from the stock’s current price.

A number of other research firms also recently weighed in on CRWD. Berenberg Bank set a $600.00 price target on CrowdStrike and gave the company a “buy” rating in a research report on Friday, January 9th. UBS Group raised their price target on shares of CrowdStrike from $580.00 to $590.00 and gave the stock a “buy” rating in a report on Wednesday, December 3rd. Morgan Stanley upped their target price on CrowdStrike from $515.00 to $537.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Stephens set a $465.00 price objective on CrowdStrike in a research report on Wednesday. Finally, Stifel Nicolaus reduced their target price on shares of CrowdStrike from $600.00 to $480.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Thirty-one analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $525.74.

CrowdStrike Stock Performance

NASDAQ CRWD opened at $371.98 on Monday. CrowdStrike has a 1 year low of $298.00 and a 1 year high of $566.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.81 and a quick ratio of 1.81. The stock has a market capitalization of $93.78 billion, a PE ratio of -295.22, a P/E/G ratio of 20.93 and a beta of 1.07. The company’s 50 day simple moving average is $438.69 and its two-hundred day simple moving average is $469.83.

CrowdStrike (NASDAQ:CRWD) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.22 billion. CrowdStrike had a negative net margin of 6.88% and a negative return on equity of 2.12%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In related news, CEO George Kurtz sold 28,853 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $413.01, for a total transaction of $11,916,577.53. Following the completion of the sale, the chief executive officer directly owned 2,054,902 shares in the company, valued at approximately $848,695,075.02. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Michael Sentonas sold 11,461 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $479.78, for a total value of $5,498,758.58. Following the completion of the sale, the president owned 342,655 shares of the company’s stock, valued at $164,399,015.90. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 100,247 shares of company stock worth $45,722,274. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRWD. Advyzon Investment Management LLC raised its position in shares of CrowdStrike by 142.9% during the 2nd quarter. Advyzon Investment Management LLC now owns 906 shares of the company’s stock worth $461,000 after acquiring an additional 533 shares in the last quarter. Carnegie Investment Counsel boosted its holdings in CrowdStrike by 6.7% in the third quarter. Carnegie Investment Counsel now owns 22,601 shares of the company’s stock valued at $11,083,000 after purchasing an additional 1,428 shares in the last quarter. Silver Oak Securities Incorporated boosted its holdings in CrowdStrike by 394.8% in the third quarter. Silver Oak Securities Incorporated now owns 2,954 shares of the company’s stock valued at $1,449,000 after purchasing an additional 2,357 shares in the last quarter. Traynor Capital Management Inc. increased its stake in CrowdStrike by 10.9% in the third quarter. Traynor Capital Management Inc. now owns 53,117 shares of the company’s stock valued at $26,047,000 after purchasing an additional 5,205 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in CrowdStrike by 7.3% during the third quarter. GPS Wealth Strategies Group LLC now owns 22,253 shares of the company’s stock worth $10,912,000 after purchasing an additional 1,512 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.

About CrowdStrike

CrowdStrike Holdings, Inc (NASDAQ: CRWD) is a cybersecurity company founded in 2011 and headquartered in Sunnyvale, California. The firm was co-founded by George Kurtz and Dmitri Alperovitch and became a publicly traded company following its initial public offering in 2019. CrowdStrike positions itself as a provider of cloud-native security solutions designed to protect endpoints, cloud workloads, identities and data against sophisticated cyber threats.

The company’s core offering is the CrowdStrike Falcon platform, a modular, cloud-delivered security architecture that combines endpoint protection (EPP), endpoint detection and response (EDR), threat intelligence, and device control through lightweight agents and centralized telemetry.