Royal Bank of Canada Has Lowered Expectations for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its price target cut by Royal Bank of Canada from $370.00 to $365.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI raised their price objective on shares of CrowdStrike from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Cantor Fitzgerald lifted their price target on shares of CrowdStrike from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Wedbush set a $330.00 price target on CrowdStrike in a report on Thursday, October 17th. Robert W. Baird lifted their price objective on CrowdStrike from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 target price on shares of CrowdStrike in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $355.80.

CrowdStrike Stock Down 0.5 %

CRWD opened at $345.97 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.90. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $398.33. The stock has a market capitalization of $84.81 billion, a P/E ratio of 678.39, a P/E/G ratio of 25.16 and a beta of 1.10. The business has a 50 day simple moving average of $315.80 and a 200-day simple moving average of $313.20.

CrowdStrike (NASDAQ:CRWD) last released its earnings results on Wednesday, August 28th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. The company had revenue of $963.87 million during the quarter, compared to the consensus estimate of $958.27 million. During the same quarter last year, the company earned $0.06 earnings per share. CrowdStrike’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities analysts anticipate that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at CrowdStrike

In related news, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $296.62, for a total value of $16,410,501.50. Following the transaction, the chief executive officer now owns 1,109,746 shares in the company, valued at approximately $329,172,858.52. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shawn Henry sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $260.73, for a total transaction of $1,173,285.00. Following the sale, the insider now owns 174,591 shares of the company’s stock, valued at approximately $45,521,111.43. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 108,248 shares of company stock worth $32,465,110 in the last quarter. 4.34% of the stock is owned by insiders.

Hedge Funds Weigh In On CrowdStrike

Hedge funds and other institutional investors have recently made changes to their positions in the business. Abich Financial Wealth Management LLC purchased a new position in CrowdStrike in the second quarter valued at about $25,000. Family Firm Inc. purchased a new stake in shares of CrowdStrike during the 2nd quarter valued at about $30,000. Itau Unibanco Holding S.A. acquired a new position in CrowdStrike during the 2nd quarter worth approximately $33,000. Unique Wealth Strategies LLC acquired a new position in CrowdStrike during the 2nd quarter worth approximately $36,000. Finally, Hobbs Group Advisors LLC acquired a new stake in CrowdStrike in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 71.16% of the company’s stock.

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.