CrowdStrike (NASDAQ:CRWD) Sets New 52-Week High – Still a Buy?

CrowdStrike (NASDAQ:CRWD) reached a new 52-week high during trading on Wednesday . The company traded as high as $493.20 and last traded at $492.03, with a volume of 3388992 shares. The stock had previously closed at $479.39.

Analyst Upgrades and Downgrades

CRWD has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $500.00 price target on shares of CrowdStrike in a report on Wednesday, June 4th. Mizuho lifted their target price on shares of CrowdStrike from $425.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, June 4th. Westpark Capital reiterated a “hold” rating on shares of CrowdStrike in a research note on Thursday, June 5th. Evercore ISI reissued an “in-line” rating and set a $440.00 price target (down from $450.00) on shares of CrowdStrike in a report on Wednesday, June 4th. Finally, KeyCorp lowered their price objective on CrowdStrike from $480.00 to $450.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $453.17.

CrowdStrike Stock Performance

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $438.65 and its 200 day moving average is $395.73. The stock has a market capitalization of $120.93 billion, a PE ratio of -703.13 and a beta of 1.16.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.07. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. CrowdStrike had a negative net margin of 4.17% and a positive return on equity of 0.43%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. On average, equities research analysts predict that CrowdStrike will post 0.55 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In other news, President Michael Sentonas sold 25,000 shares of CrowdStrike stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $477.00, for a total transaction of $11,925,000.00. Following the completion of the sale, the president now directly owns 422,204 shares in the company, valued at approximately $201,391,308. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roxanne S. Austin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $482.50, for a total transaction of $4,825,000.00. Following the completion of the transaction, the director now directly owns 18,297 shares in the company, valued at $8,828,302.50. This represents a 35.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,748 shares of company stock worth $89,478,971 in the last quarter. 3.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrowdStrike

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in CrowdStrike by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 22,834,565 shares of the company’s stock worth $8,051,011,000 after purchasing an additional 908,554 shares during the period. Jennison Associates LLC grew its position in shares of CrowdStrike by 21.1% during the 1st quarter. Jennison Associates LLC now owns 6,565,275 shares of the company’s stock worth $2,314,785,000 after buying an additional 1,144,295 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CrowdStrike by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 5,018,441 shares of the company’s stock worth $1,712,063,000 after buying an additional 124,984 shares in the last quarter. Norges Bank purchased a new position in shares of CrowdStrike during the fourth quarter valued at $1,111,542,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of CrowdStrike by 52.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,771,424 shares of the company’s stock valued at $977,149,000 after acquiring an additional 955,529 shares in the last quarter. 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.