CrowdStrike (NASDAQ:CRWD) Upgraded at Wolfe Research

CrowdStrike (NASDAQ:CRWD) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Monday,Benzinga reports. The brokerage presently has a $450.00 price target on the stock. Wolfe Research’s price target points to a potential upside of 21.76% from the company’s current price.

Several other research firms have also recently weighed in on CRWD. JPMorgan Chase & Co. lowered their price objective on shares of CrowdStrike from $582.00 to $472.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Truist Financial reduced their target price on CrowdStrike from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Loop Capital set a $550.00 price target on CrowdStrike in a research report on Thursday, December 11th. BTIG Research cut their price objective on CrowdStrike from $640.00 to $499.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Mizuho reduced their price objective on CrowdStrike from $540.00 to $490.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $505.08.

CrowdStrike Price Performance

Shares of NASDAQ CRWD opened at $369.58 on Monday. CrowdStrike has a 12 month low of $298.00 and a 12 month high of $566.90. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $93.73 billion, a price-to-earnings ratio of -499.43, a PEG ratio of 16.21 and a beta of 1.06. The business has a 50-day moving average of $417.65 and a 200-day moving average of $469.03.

CrowdStrike (NASDAQ:CRWD) last announced its earnings results on Tuesday, March 3rd. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. CrowdStrike had a negative net margin of 3.81% and a negative return on equity of 0.14%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $1.03 earnings per share. CrowdStrike’s quarterly revenue was up 23.8% on a year-over-year basis. Sell-side analysts expect that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Transactions at CrowdStrike

In other news, CFO Burt W. Podbere sold 15,918 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $410.45, for a total value of $6,533,543.10. Following the completion of the sale, the chief financial officer owned 195,523 shares of the company’s stock, valued at approximately $80,252,415.35. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Michael Sentonas sold 19,367 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $411.06, for a total value of $7,960,999.02. Following the completion of the sale, the president owned 406,944 shares of the company’s stock, valued at $167,278,400.64. The trade was a 4.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 116,469 shares of company stock valued at $48,369,351. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Asset Planning Inc bought a new position in shares of CrowdStrike during the third quarter valued at approximately $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in CrowdStrike during the 3rd quarter valued at $25,000. Anchor Investment Management LLC bought a new position in CrowdStrike in the 3rd quarter worth $25,000. Hanson & Doremus Investment Management lifted its holdings in CrowdStrike by 170.0% in the fourth quarter. Hanson & Doremus Investment Management now owns 54 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. Finally, Basepoint Wealth LLC bought a new stake in CrowdStrike during the 4th quarter valued at approximately $25,000. Institutional investors own 71.16% of the company’s stock.

CrowdStrike Company Profile

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.