CrowdStrike Holdings, Inc. (NASDAQ: CRWD) has seen its price target increased by Truist Financial from $550.00 to $600.00, according to a report published on Tuesday. The firm maintains a “buy” rating for the stock, reflecting confidence in the company’s future performance.
Several other financial analysts have also revised their price targets for CrowdStrike. Daiwa Capital Markets raised its estimate from $475.00 to $530.00 with an “outperform” rating. Similarly, Stifel Nicolaus increased its price target to $600.00 and affirmed a “buy” rating. In a separate analysis, BTIG Research set a target price of $640.00 while maintaining a “buy” rating. Other firms, including Roth Capital and Mizuho, have also adjusted their targets to $510.00 and $540.00, respectively.
Analysts have expressed a generally positive outlook on CrowdStrike, as indicated by the ratings. One analyst has issued a “Strong Buy” rating, while twenty-nine others have rated the stock as a “Buy.” Eighteen analysts have given it a “Hold” rating, and two have assigned a “Sell” rating. The consensus based on data from MarketBeat.com shows an average rating of “Moderate Buy” and an average price target of $537.49.
Recent Performance and Earnings Insights
CrowdStrike’s latest quarterly earnings report, released on August 27, 2023, showed the company earning $0.93 per share, exceeding the consensus estimate of $0.83 by $0.10. Despite a negative return on equity of 1.53% and a net margin of 6.84%, the company reported revenue of $1.17 billion for the quarter, surpassing expectations of $1.15 billion. Comparatively, this represents a 21.4% increase in revenue from the same quarter last year.
CrowdStrike has provided guidance for fiscal year 2026, projecting earnings per share (EPS) between $3.60 and $3.72, with a third-quarter guidance of $0.93 to $0.95 EPS. Analysts anticipate an EPS of $0.55 for the current fiscal year.
Insider Trading Activity
In related developments, Chief Financial Officer Burt W. Podbere sold 1,957 shares of CrowdStrike on November 3, 2023, at an average price of $550.41, amounting to a total value of approximately $1,077,152.37. Following this transaction, he holds 218,467 shares, valued at around $120.25 million, reflecting a 0.89% decrease in his position.
CEO George Kurtz also sold 6,975 shares the same day for a total of $3.84 million, leading to a 0.33% decrease in his ownership, now totaling 2,108,082 shares worth approximately $1.16 billion. Over the past ninety days, insiders have sold a total of 116,622 shares, valued at $58.56 million. Insiders currently own 3.32% of CrowdStrike’s stock.
Institutional Investor Activity
Institutional investors have also been active in adjusting their stakes in CrowdStrike. Disciplined Equity Management Inc. increased its holdings by 0.8% in the third quarter, now owning 2,405 shares valued at approximately $1.18 million. TD Private Client Wealth LLC raised its position by 6.4%, acquiring 334 shares worth around $164,000.
Other notable changes include Financially Speaking Inc., which boosted its holdings by 26.7%, and Catalyst Financial Partners LLC, increasing its stake by 1.6%. Collectively, hedge funds and institutional investors control 71.16% of CrowdStrike’s shares.
CrowdStrike Holdings, Inc. offers a comprehensive range of cybersecurity solutions both in the United States and internationally. The company’s platform provides cloud-based protection for endpoints, cloud workloads, identity, and data, encompassing various security services. With this range of offerings, CrowdStrike continues to position itself as a leader in the cybersecurity sector.
