Morgan Stanley Cuts CrowdStrike (NASDAQ:CRWD) Price Target to $181.00

CrowdStrike (NASDAQ:CRWD – Get Rating) had its price target cut by Morgan Stanley from $212.00 to $181.00 in a research report sent to investors on Thursday, Stock Target Advisor reports. They currently have an equal weight rating on the stock.

A number of other analysts have also commented on the stock. BTIG Research upgraded shares of CrowdStrike from a neutral rating to a buy rating and set a $257.00 price target for the company in a research note on Thursday, March 10th. Barclays upped their target price on shares of CrowdStrike from $250.00 to $255.00 and gave the stock an overweight rating in a research note on Thursday, March 10th. Stifel Nicolaus reduced their target price on shares of CrowdStrike from $285.00 to $250.00 and set a buy rating for the company in a research note on Monday, March 7th. The Goldman Sachs Group upgraded shares of CrowdStrike from a neutral rating to a buy rating and upped their target price for the stock from $241.00 to $285.00 in a research note on Tuesday, April 12th. Finally, Royal Bank of Canada boosted their price target on shares of CrowdStrike from $250.00 to $275.00 in a report on Thursday, March 10th. One equities research analyst has rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CrowdStrike has a consensus rating of Buy and an average target price of $262.18.

CrowdStrike stock opened at $148.74 on Thursday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.71. CrowdStrike has a 12-month low of $130.00 and a 12-month high of $298.48. The firm’s fifty day moving average is $199.44 and its 200 day moving average is $200.69. The company has a market capitalization of $34.32 billion, a PE ratio of -144.41 and a beta of 1.44.

CrowdStrike (NASDAQ:CRWD – Get Rating) last released its earnings results on Wednesday, March 9th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. CrowdStrike had a negative net margin of 16.17% and a negative return on equity of 15.87%. The company had revenue of $431.01 million for the quarter, compared to the consensus estimate of $412.38 million. During the same quarter in the previous year, the company earned ($0.08) EPS. CrowdStrike’s quarterly revenue was up 62.7% compared to the same quarter last year. Sell-side analysts expect that CrowdStrike will post -0.89 EPS for the current fiscal year.

In other CrowdStrike news, CFO Burt W. Podbere sold 13,282 shares of the business’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $200.42, for a total value of $2,661,978.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Burt W. Podbere sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $235.09, for a total transaction of $2,350,900.00. Following the completion of the transaction, the chief financial officer now owns 321,215 shares in the company, valued at approximately $75,514,434.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 170,458 shares of company stock worth $35,634,355. 6.82% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Wealth Quarterback LLC increased its position in shares of CrowdStrike by 78.6% in the third quarter. Wealth Quarterback LLC now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Bank of New Hampshire bought a new stake in shares of CrowdStrike during the 1st quarter valued at about $30,000. Assetmark Inc. bought a new stake in shares of CrowdStrike during the 3rd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of CrowdStrike by 159.6% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 135 shares of the company’s stock valued at $28,000 after purchasing an additional 83 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of CrowdStrike by 440.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 135 shares of the company’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 63.02% of the company’s stock.

About CrowdStrike (Get Rating)

CrowdStrike Holdings, Inc provides cloud-delivered protection across endpoints and cloud workloads, identity, and data. It offers threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. The company primarily sells subscriptions to its Falcon platform and cloud modules through its direct sales team that leverages its network of channel partners.

See Also