HSBC initiates coverage on Crowdstrike with buy recommendation

HSBC has initiated coverage of Crowdstrike Holdings Inc. (NASDAQ:CRWD) with a Buy recommendation on Friday, according to a recent report. The one-year price target for the cybersecurity firm is set at an average of $184.89, marking an 8.30% increase from its latest closing price of $170.73.

Crowdstrike, known for its cloud-delivered endpoint and cloud workload protection that leverages artificial intelligence to protect customers from cyber threats, is anticipated to see its annual revenue ascend by 14.21% to $3,018 million. The company’s projected annual non-GAAP EPS stands at 2.03.

Despite some fluctuations in investment sentiment around the company, institutional ownership has seen a slight uptick over the past three months. While there was a decrease of 51 owners or 3.02% in the last quarter, total shares held by institutions have increased by 1.27% to 173,115K shares. However, the average portfolio weight dedicated to CRWD among these funds has dropped by 11.79%. The put/call ratio for CRWD currently stands at 1.15, suggesting a bearish outlook.

In terms of specific shareholders, Vanguard Total Stock Market Index Fund Investor Shares holds 6,649K shares or 2.78% ownership of the company, representing a decrease of 1.57% from its previous filing and a portfolio allocation reduction of 2.80%. On the other hand, Voya Investment Management increased its stake by 10.21% to hold 5,311K shares or 2.22% ownership and boosted its portfolio allocation in CRWD by 12.66%.

T. Rowe Price Investment Management holds a stake of 5,069K shares or 2.12% ownership after increasing its holdings by 26.24% from its previous filing, accompanied by a portfolio allocation hike of 37.82%. Jennison Associates reduced its stake slightly by 0.96% to hold 4,823K shares or 2.02% ownership and decreased its portfolio allocation by 5.71%. Jpmorgan Chase has raised its stake by 7.91% to hold 4,010K shares or 1.68% ownership, and significantly increased its portfolio allocation by a substantial 725.40%.

This comprehensive snapshot of Crowdstrike’s current financial outlook and institutional sentiment is crucial for investors considering their involvement with the company.

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