Macquarie Initiates Coverage on CrowdStrike (NASDAQ:CRWD)

Investment analysts at Macquarie assumed coverage on shares of CrowdStrike (NASDAQ:CRWD) in a research report issued on Thursday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $465.00 price target on the stock. Macquarie’s price objective would suggest a potential downside of 1.16% from the stock’s current price.

A number of other brokerages also recently commented on CRWD. Stephens increased their price target on shares of CrowdStrike from $450.00 to $540.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Piper Sandler downgraded shares of CrowdStrike from an “overweight” rating to a “neutral” rating and set a $505.00 price target for the company. in a report on Monday, July 7th. Mizuho raised their price objective on shares of CrowdStrike from $425.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 4th. Evercore ISI restated an “in-line” rating and set a $440.00 target price (down previously from $450.00) on shares of CrowdStrike in a research report on Wednesday, June 4th. Finally, Stifel Nicolaus boosted their target price on CrowdStrike from $480.00 to $495.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $456.60.

CrowdStrike Stock Down 0.6%

Shares of NASDAQ:CRWD opened at $470.45 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.21. CrowdStrike has a 12 month low of $200.81 and a 12 month high of $517.98. The company has a 50-day moving average price of $472.41 and a 200 day moving average price of $413.02. The company has a market cap of $117.26 billion, a price-to-earnings ratio of -681.81 and a beta of 1.16.

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

Insider Buying and Selling

In related news, Director Roxanne S. Austin sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $497.67, for a total value of $7,465,050.00. Following the completion of the transaction, the director owned 18,858 shares of the company’s stock, valued at $9,385,060.86. The trade was a 44.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO George Kurtz sold 55,556 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $447.54, for a total value of $24,863,532.24. Following the transaction, the chief executive officer directly owned 2,192,610 shares in the company, valued at approximately $981,280,679.40. The trade was a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,294 shares of company stock valued at $118,670,500 over the last ninety days. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On CrowdStrike

Large investors have recently made changes to their positions in the business. Cloud Capital Management LLC acquired a new position in shares of CrowdStrike during the first quarter worth $25,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of CrowdStrike by 114.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 75 shares of the company’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of CrowdStrike during the first quarter worth $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of CrowdStrike by 305.3% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 77 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of CrowdStrike during the first quarter worth $30,000. 71.16% of the stock is owned by institutional investors and hedge funds.

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.