CrowdStrike Holdings, Inc. (NASDAQ:CRWD) saw its price target increased from $550.00 to $600.00 by Truist Financial in a report released on November 3, 2023. This upgrade comes with a maintained buy rating, reflecting growing confidence in the company’s market performance. Other analysts have also adjusted their price targets, indicating a positive outlook for the cybersecurity firm.
Daiwa Capital Markets raised its target from $475.00 to $530.00 with an “outperform” rating noted in their report dated September 24, 2023. Stifel Nicolaus similarly increased their price objective from $515.00 to $600.00, affirming a buy rating. On November 4, 2023, BTIG Research set a target price of $640.00, also labeling the stock as a buy. Roth Capital reaffirmed a buy rating with a target price of $510.00, up from $410.00, in their analysis released on September 18, 2023. Mizuho raised its target from $475.00 to $540.00 while providing a hold rating.
The consensus among analysts reveals one strong buy, twenty-nine buy ratings, eighteen hold, and two sell ratings. According to data from MarketBeat.com, CrowdStrike holds an average rating of “Moderate Buy” with an average price target of $537.49.
Quarterly Earnings and Insider Activity
CrowdStrike recently announced its quarterly earnings on August 27, 2023. The company reported earnings per share (EPS) of $0.93, exceeding the consensus estimate of $0.83 by $0.10. Revenue for the quarter reached $1.17 billion, surpassing the expected $1.15 billion. This marks a 21.4% increase in revenue compared to the same quarter last year.
For fiscal year 2026, CrowdStrike has set guidance at $3.60 to $3.72 EPS, with Q3 2026 guidance ranging from $0.93 to $0.95 EPS. Analysts project an EPS of $0.55 for the current fiscal year.
In related news, Chief Financial Officer Burt W. Podbere sold 1,957 shares at an average price of $550.41, totaling approximately $1.08 million. Following this transaction, Podbere retains 218,467 shares valued at about $120.25 million, reflecting a 0.89% decrease in his holdings. CEO George Kurtz also sold 6,975 shares for around $3.84 million, bringing his ownership down by 0.33% to 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 approximately $58.56 million, with company insiders owning 3.32% of the stock.
Institutional Investor Trends
Hedge funds and institutional investors have also been active in adjusting their holdings of CrowdStrike. Disciplined Equity Management Inc. increased its position by 0.8%, now owning 2,405 shares valued at around $1.18 million. TD Private Client Wealth LLC raised its stake by 6.4%, acquiring 334 shares worth approximately $164,000.
Other firms such as Financially Speaking Inc. and Catalyst Financial Partners LLC have also boosted their holdings, reflecting a growing interest among large investors. Hedge funds and institutional investors now own 71.16% of CrowdStrike’s stock, indicating strong backing from significant market players.
CrowdStrike continues to solidify its position in the cybersecurity landscape with its comprehensive cloud-delivered solutions. The company offers a range of services including endpoint protection, managed security, and AI-powered workflow automation, making it a key player in safeguarding against emerging cyber threats.
