Needham & Company LLC Boosts CrowdStrike (NASDAQ:CRWD) Price Target to $530.00

CrowdStrike (NASDAQ:CRWD) had its price objective boosted by Needham & Company LLC from $420.00 to $530.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 8.44% from the company’s current price.

A number of other equities analysts also recently issued reports on CRWD. Evercore ISI raised their price objective on shares of CrowdStrike from $400.00 to $450.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. KeyCorp dropped their price target on shares of CrowdStrike from $480.00 to $450.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley boosted their price objective on shares of CrowdStrike from $415.00 to $455.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Stifel Nicolaus set a $480.00 price objective on CrowdStrike and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, Barclays set a $500.00 target price on CrowdStrike in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $422.76.

CrowdStrike Price Performance

NASDAQ CRWD opened at $488.76 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. CrowdStrike has a 1-year low of $200.81 and a 1-year high of $491.20. The stock has a market capitalization of $121.15 billion, a price-to-earnings ratio of 958.37, a PEG ratio of 17.86 and a beta of 1.22. The business’s fifty day moving average price is $408.78 and its 200-day moving average price is $385.89.

CrowdStrike (NASDAQ:CRWD) last posted its earnings results on Tuesday, June 3rd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a return on equity of 7.11% and a net margin of 3.39%. CrowdStrike’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, equities analysts predict that CrowdStrike will post 0.55 earnings per share for the current year.

Insider Activity at CrowdStrike

In related 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 completion of the sale, the chief accounting officer now directly owns 36,165 shares of the company’s stock, valued at $12,969,492.30. The trade was a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Henry sold 4,500 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $353.00, for a total value of $1,588,500.00. Following the completion of the sale, the insider now directly owns 89,714 shares of the company’s stock, valued at approximately $31,669,042. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,431 shares of company stock worth $79,162,548. Company insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FSA Wealth Management LLC grew its holdings in shares of CrowdStrike by 11.2% during the fourth quarter. FSA Wealth Management LLC now owns 228 shares of the company’s stock worth $78,000 after buying an additional 23 shares during the last quarter. Jacobi Capital Management LLC lifted its position in CrowdStrike by 1.9% during the 4th quarter. Jacobi Capital Management LLC now owns 1,309 shares of the company’s stock worth $448,000 after acquiring an additional 25 shares during the period. Tradewinds Capital Management LLC lifted its position in CrowdStrike by 20.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 145 shares of the company’s stock worth $51,000 after acquiring an additional 25 shares during the period. Close Asset Management Ltd grew its stake in shares of CrowdStrike by 23.8% in the 1st quarter. Close Asset Management Ltd now owns 130 shares of the company’s stock valued at $46,000 after purchasing an additional 25 shares during the last quarter. Finally, Ramirez Asset Management Inc. increased its holdings in shares of CrowdStrike by 5.9% in the first quarter. Ramirez Asset Management Inc. now owns 450 shares of the company’s stock valued at $159,000 after purchasing an additional 25 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.

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.