5 Best Cybersecurity Stocks to Buy Now

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

Number of Hedge Fund Holders: 77

CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is a California-based cybersecurity company that provides a platform to detect and prevent breaches and threats. The company’s cloud-native Falcon platform is a security solution that can be used on nearly all devices, including desktops, laptops, servers, etc.

In Q1 FY22, CrowdStrike Holdings, Inc. (NASDAQ: CRWD) reported a net income of $23.3 million, up from $4.5 million during the same period last year. The EPS beat the market consensus by $0.04 at $0.10. The revenue for the quarter was recorded at $302.8 million, compared with $178.1 million in Q1 FY21, presenting 70% year-over-year growth. Free cash flow also increased to $117.3 million from $87 million in the prior-year quarter. For the second quarter, the company presented strong guidance, expecting revenue in the range of $318.3 to $324.4 million.

Recently, Mizuho raised its price target on CRWD to $295 and kept a ‘Buy’ rating on the shares. The strong quarter resulted in many other investment banks upgrading the CRWD stock, such as BTIG, Piper, Sandler, and KGI Securities.

At the end of Q1 2021, 77 hedge funds tracked by Insider Monkey have stakes in CrowdStrike Holdings, Inc. (NASDAQ: CRWD), worth $5.25 billion. Tiger Global Management LLC is the largest shareholder of the company, with 7.5 million shares, worth $1.37 billion.

Carillon Tower Advisers has recently released its first-quarter investor letter and mentioned CrowdStrike Holdings, Inc. (NASDAQ: CRWD) and other stocks in it. Here is what the firm has to say about CRWD:

“CrowdStrike provides cloud-based software used in the security of computers, servers, and mobile phones. The stock pulled back a bit during the quarter as investor sentiment shifted away from stocks with higher valuation multiples. We remain shareholders, as the protection of enterprise assets and cloud workloads from various forms of cyberattacks remains more important than ever for many enterprises, and we believe this will continue to result in a strong demand environment for CrowdStrike’s innovative products and services.”

You can also take a peek at Top 10 Cloud Stocks To Buy and 15 Biggest Cloud Companies.

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