Scotiabank Issues Positive Forecast for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its price objective increased by Scotiabank from $370.00 to $480.00 in a research note published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Several other analysts have also recently commented on CRWD. Royal Bank of Canada lifted their target price on shares of CrowdStrike from $500.00 to $510.00 and gave the stock an “outperform” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on shares of CrowdStrike from $405.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating on shares of CrowdStrike in a research note on Thursday, May 22nd. Rosenblatt Securities lifted their target price on shares of CrowdStrike from $450.00 to $515.00 and gave the stock a “buy” rating in a research note on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of CrowdStrike in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $449.38.

CrowdStrike Trading Down 5.8%

Shares of CRWD opened at $460.56 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a 50 day simple moving average of $410.85 and a 200-day simple moving average of $386.40. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $491.20. The stock has a market cap of $114.16 billion, a price-to-earnings ratio of 903.08, a price-to-earnings-growth ratio of 17.86 and a beta of 1.22.

CrowdStrike (NASDAQ:CRWD) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. CrowdStrike had a net margin of 3.39% and a return on equity of 7.11%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. Equities analysts forecast that CrowdStrike will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other CrowdStrike news, CAO Anurag Saha sold 1,496 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $358.62, for a total value of $536,495.52. Following the transaction, the chief accounting officer now owns 36,165 shares in the company, valued at $12,969,492.30. The trade was a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gerhard Watzinger sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $489.00, for a total transaction of $4,890,000.00. Following the completion of the transaction, the director now owns 29,500 shares in the company, valued at $14,425,500. This represents a 25.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,681 shares of company stock worth $87,081,236 in the last quarter. 3.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in CrowdStrike in the 1st quarter worth $25,000. Vision Financial Markets LLC acquired a new stake in shares of CrowdStrike in the 1st quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of CrowdStrike by 114.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock valued at $26,000 after purchasing an additional 40 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of CrowdStrike by 305.3% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Finally, FPC Investment Advisory Inc. raised its stake in shares of CrowdStrike by 811.1% in the 4th quarter. FPC Investment Advisory Inc. now owns 82 shares of the company’s stock valued at $28,000 after purchasing an additional 73 shares in the last quarter. 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.