Citigroup Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $345.00

CrowdStrike (NASDAQ:CRWD) had its price objective reduced by Citigroup from $425.00 to $345.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also weighed in on the company. Wells Fargo & Company cut their price objective on CrowdStrike from $435.00 to $350.00 and set an overweight rating for the company in a report on Monday, July 22nd. FBN Securities upgraded shares of CrowdStrike to a strong-buy rating in a research report on Wednesday, June 5th. DA Davidson reduced their price objective on shares of CrowdStrike from $425.00 to $380.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Rosenblatt Securities dropped their target price on shares of CrowdStrike from $420.00 to $350.00 and set a buy rating on the stock in a report on Wednesday. Finally, BMO Capital Markets cut their target price on shares of CrowdStrike from $425.00 to $410.00 and set an outperform rating for the company in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $359.16.

CrowdStrike Stock Up 0.8 %

CrowdStrike stock opened at $256.16 on Wednesday. CrowdStrike has a 52 week low of $140.52 and a 52 week high of $398.33. The stock has a market cap of $62.34 billion, a price-to-earnings ratio of 483.33, a PEG ratio of 13.09 and a beta of 1.10. The company’s 50-day moving average price is $354.16 and its two-hundred day moving average price is $326.36. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.29.

CrowdStrike (NASDAQ:CRWD) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.01). CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. The company had revenue of $921.04 million during the quarter, compared to the consensus estimate of $904.82 million. On average, analysts expect that CrowdStrike will post 0.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roxanne S. Austin sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $390.01, for a total transaction of $3,900,100.00. Following the completion of the sale, the director now owns 18,297 shares in the company, valued at approximately $7,136,012.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CrowdStrike news, CEO George Kurtz sold 56,279 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $304.41, for a total transaction of $17,131,890.39. Following the completion of the transaction, the chief executive officer now owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $390.01, for a total value of $3,900,100.00. Following the completion of the sale, the director now directly owns 18,297 shares in the company, valued at $7,136,012.97. The disclosure for this sale can be found here. Insiders have sold 219,675 shares of company stock valued at $76,931,522 over the last three months. 4.34% of the stock is currently owned by insiders.

Institutional Trading of CrowdStrike

Several hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in shares of CrowdStrike during the second quarter worth approximately $30,000. Unique Wealth Strategies LLC bought a new position in CrowdStrike during the second quarter worth $36,000. Trivant Custom Portfolio Group LLC acquired a new position in CrowdStrike during the 1st quarter valued at $30,000. Hobbs Group Advisors LLC bought a new stake in CrowdStrike in the 2nd quarter valued at $38,000. Finally, CVA Family Office LLC acquired a new stake in CrowdStrike in the 4th quarter worth $26,000. Institutional investors 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.