5 Best Cybersecurity Stocks to Buy Heading into 2023

2. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)

Number of Hedge Fund Holders: 85

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a leader in cloud-delivered endpoint and workload security solutions, with a rapidly growing customer base. The company’s products are used by Fortune 100 companies and its customer base is growing quickly. With its next-generation technology and expertise, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is positioned to capitalize on the growing demand for cloud security solutions. The company’s Falcon platform leverages artificial intelligence and machine learning to protect organizations from cyber threats, and its solutions are designed to be easy to deploy and manage. The cybersecurity industry is expected to continue to grow, as companies invest in solutions to protect their digital assets. This is a major tailwind for CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and justifies its place on our list of the best cybersecurity stocks to invest in.

Wall Street sees upside to CrowdStrike Holdings, Inc. (NASDAQ:CRWD). This December, Redburn analyst Nina Marques started coverage of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) with a Buy rating and a $175 price target.

At the close of the third quarter of 2022, 85 hedge funds were long CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and disclosed stakes worth $2.97 billion. Of those, Matrix Capital Management was the top shareholder in the company and held a position worth $494.4 million.

Here is what Carillon Tower Advisers had to say about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its second-quarter 2022 investor letter:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a security software platform for protecting information technology assets and cloud workloads, delivered strong earnings results, with solid recurring revenue, customer growth, and profitability. Some investors, however, hoped for bigger numbers on the annual recurring revenue metric. Additionally, CrowdStrike has shown a desire to continue to hire to fuel growth, and so the expected increase in future profitability will be held back somewhat in the near term. We remain positive on the company’s prospects, as current geopolitical tensions make cyber security mission-critical.”