5 Best Cybersecurity Stocks to Buy Now

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

Number of Hedge Fund Holders: 77

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a Texas-based company that provides threat intelligence, managed security services, IT operations management, threat hunting, Zero Trust identity protection, and log management. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) announced on September 20 a deal to acquire the cybersecurity startup, Reposify. Reposify’s EASM capabilities will help advance CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s Threat Intelligence and Security and IT Operations product suites.

On September 21, BTIG analyst Gray Powell maintained a Buy rating and a $234 price target on CrowdStrike Holdings, Inc. (NASDAQ:CRWD). The analyst said that the discussions with management have made him more confident in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s growth potential and its ability to withstand higher IT budget pressure amid a weakening economy. 

According to Insider Monkey’s data, 77 hedge funds were bullish on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of Q2 2022, compared to 80 funds in the last quarter. Chase Coleman’s Tiger Global Management is the leading position holder in the company, with 6.5 million shares worth $1.10 billion. 

Here is what Carillon Tower Advisers specifically said about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 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.”