Piper Sandler Downgrades CrowdStrike (NASDAQ:CRWD) to Neutral

CrowdStrike (NASDAQ:CRWD – Get Free Report) Analysts at Piper Sandler lowered their rating from “overweight” to “neutral” in a report released Tuesday, Briefing.com reports. They currently have a price target of $400.00 for the stock. Piper Sandler’s price target suggests a potential upside of 2.00% from the company’s current price.

Several other brokerages have also recently commented on CRWD. HSBC raised their price target on shares of CrowdStrike from $411.00 to $412.00 and gave the company a “buy” rating in a research report on Wednesday, March 6. Rosenblatt Securities raised their price target on shares of CrowdStrike from $415.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, June 5. Mizuho lowered their price target on shares of CrowdStrike from $390.00 to $370.00 and set a “buy” rating for the company in a research note on Wednesday, June 5. Citigroup raised their price target on shares of CrowdStrike from $320.00 to $425.00 and gave the stock a “buy” rating in a research report on Thursday, March 7. Finally, JMP Securities re-rated a “market outperform” rating and set a $400.00 price target on shares of CrowdStrike in a research note on Tuesday, May 14. Two analysts have rated the stock a “hold,” thirty-six have given a “buy” rating, and one has given a “strong buy” rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average price target of $380.62 based on data from MarketBeat.com.

Read our latest report on CrowdStrike

CrowdStrike Price Performance

CrowdStrike shares opened at $392.15 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50-day moving average of $341.55 and a 200-day moving average of $314.36. CrowdStrike has a one-year low of $139.37 and a one-year high of $394.64. The company has a market capitalization of $95.43 billion, a P/E ratio of 739.92, a price-earnings-growth ratio of 19.31 and a beta of 1.10.

CrowdStrike (NASDAQ:CRWD – Get Free Report) last released its earnings results on Tuesday, June 4. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.01). The company had revenue of $921.04 million for the quarter, compared to analyst estimates of $904.82 million. CrowdStrike had a net margin of 4.01% and a return on equity of 7.39%. Analysts predict that CrowdStrike as a group will post earnings per share of $0.9 for the current fiscal year.

Internal activity

In related news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 15. The shares were sold at an average price of $308.79, for a total value of $1,235,160.00. Following the sale, the insider now directly owns 208,961 shares of the company’s stock, valued at approximately $64,525,067.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink . In other news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 15. The shares were sold at an average price of $308.79, for a total value of $1,235,160.00. Following the completion of the sale, the insider now directly owns 208,961 shares of the company’s stock, valued at approximately $64,525,067.19. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Additionally, CEO George Kurtz sold 56,279 shares of the company’s stock in a transaction on Friday, May 3. The shares were sold at an average price of $304.41, for a total value of $17,131,890.39. Following the completion of the sale, the CEO now owns 1,146,048 shares of the company’s stock, valued at approximately $348,868,471.68. Disclosure regarding this sale can be found here . Over the last 90 days, insiders have sold 219,675 shares of the company’s stock, valued at $75,730,552. Company insiders own 4.34% of the stock.

Institutional investors rate CrowdStrike

A number of institutional investors and hedge funds have recently modified their holdings in CRWD. CVA Family Office LLC acquired a new share of CrowdStrike in the fourth quarter valued at approximately $26,000. Hexagon Capital Partners LLC acquired a new position in CrowdStrike in the fourth quarter valued at approximately $26,000. Silver Oak Securities Incorporated acquired a new stake in shares of CrowdStrike in the third quarter valued at $27,000. Bear Mountain Capital Inc. acquired a new position in shares of CrowdStrike in the fourth quarter valued at $27,000. Finally, Trivant Custom Portfolio Group LLC acquired a new share of CrowdStrike in the first quarter valued at approximately $30,000. 71.16% of the shares are owned by institutional investors and hedge funds.

CrowdStrike Company Profile

(Download the free report)

CrowdStrike Holdings, Inc. provides cybersecurity solutions in the United States and internationally. Its unified platform provides cloud-delivered protection for endpoints, cloud workloads, identities, and data. The company offers enterprise 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, as well as securing generative AI workload services.

Further reading

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