Crowdstrike’s (NASDAQ:CRWD) lock-up period is set to expire on Monday, December 9th. Crowdstrike had issued 18,000,000 shares in its IPO on June 12th. The total size of the offering was $612,000,000 based on an initial share price of $34.00. After the end of Crowdstrike’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Several research firms have recently weighed in on CRWD. Piper Jaffray Companies raised their price objective on shares of Crowdstrike from $90.00 to $100.00 in a research report on Friday, September 6th. Bank of America cut their target price on shares of Crowdstrike from $103.00 to $86.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. increased their target price on Crowdstrike from $104.00 to $109.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Royal Bank of Canada reduced their target price on Crowdstrike from $83.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird lowered their price target on Crowdstrike from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.10.
Shares of NASDAQ:CRWD opened at $50.89 on Friday. The stock has a fifty day simple moving average of $51.80. Crowdstrike has a 52 week low of $44.58 and a 52 week high of $101.88.
Crowdstrike (NASDAQ:CRWD) last posted its quarterly earnings results on Thursday, December 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.12. The business had revenue of $125.10 million for the quarter, compared to analysts’ expectations of $118.79 million. The business’s revenue for the quarter was up 88.4% compared to the same quarter last year. As a group, analysts forecast that Crowdstrike will post -1.06 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Crowdstrike during the 2nd quarter valued at about $39,939,000. Artal Group S.A. bought a new stake in Crowdstrike in the second quarter valued at approximately $6,829,000. Elkfork Partners LLC bought a new stake in Crowdstrike in the second quarter valued at approximately $80,000. Morgan Stanley purchased a new stake in shares of Crowdstrike during the second quarter valued at approximately $735,000. Finally, First Trust Advisors LP purchased a new stake in shares of Crowdstrike during the second quarter valued at approximately $6,600,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.
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