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News

CrowdStrike Stock Is Sliding Tuesday: What's Going On?

Author: Adam Eckert | July 02, 2024 09:27am

CrowdStrike Holdings Inc (NASDAQ:CRWD) shares are trading lower Tuesday after Piper Sandler downgraded the stock to Neutral.

What Happened: Piper Sandler analyst Rob Owens downgraded CrowdStrike from Overweight to Neutral and maintained a price target of $400.

Keybanc analyst Eric Heath also weighed in on CrowdStrike on Tuesday. The Keybanc analyst maintained CrowdStrike with an Overweight and raised the price target from $380 to $440.

Here’s a look at other analyst changes for CrowdStrike over the last month:

  • Guggenheim analyst John Difucci reiterated CrowdStrike with a Buy and maintained a price target of $424.
  • Cantor Fitzgerald analyst Yi Fu Lee reiterated CrowdStrike with an Overweight and maintained a price target of $400.
  • RBC Capital analyst Matthew Hedberg reiterated CrowdStrike with an Outperform and maintained a price target of $420.
  • Wedbush analyst Taz Koujalgi maintained CrowdStrike with an Outperform and lowered the price target from $390 to $385.
  • Oppenheimer analyst Ittai Kidron maintained CrowdStrike with an Outperform and raised the price target from $355 to $400.

Related Link: Affirm Card Users’ Data Compromised in Evolve Bank Cybersecurity Breach: Report

Is CRWD A Good Stock To Buy?

When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.

CrowdStrike has reported average annual revenue growth of 56.21% over the past five years. It's also important to pay attention to valuation when deciding whether to buy a stock. CrowdStrike has a forward P/E ratio of 98.04. This means investors are paying $98.04 for each dollar of expected earnings in the future. The average forward P/E ratio of CrowdStrike’s peers is 64.3.

Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.

CRWD Price Action: CrowdStrike shares were down 2.21% at $383.49 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.

Posted In: CRWD