5 Most Promising Tech Stocks According to Analysts

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

One-Year Price Target: 167.51

Cybersecurity company CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares have gained about 8% year to date in 2023 through February 13. However, CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s average price target of $167.51 shows strong upside potential from the current levels. Last month, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) gained after BMO Capital Markets analyst Keith Bachman started covering the stock with an Outperform rating. The analyst mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s endpoint security products and its expanding platform of services and said that the company has the potential to compete against Microsoft Corporation (NASDAQ:MSFT) and other rivals.

The analyst thinks CrowdStrike Holdings, Inc. (NASDAQ:CRWD) should use its endpoint services to become one of the leading network security providers.

Hedge fund sentiment is strong for CrowdStrike Holdings, Inc. (NASDAQ:CRWD). At the end of the third quarter of 2022, 85 hedge funds tracked by Insider Monkey reported owning stakes in CrowdStrike Holdings, Inc. (NASDAQ:CRWD), up from 78 funds in the previous quarter. The biggest stakeholder of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) during this period was  David Goel and Paul Ferri’s Matrix Capital Management which owns a $494 million stake in the company.

Carillon Tower Advisors made the following comment about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q4 2022 investor letter:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a provider of cyber security software solutions, delivered quarterly results that exceeded expectations, but provided guidance that disappointed, as the macro economy is causing longer sales cycles and some larger orders are being sold in smaller pieces. However, these deals are not being lost to competitors; they are just being delayed, and management expects enterprise security spending to remain relatively resilient in 2023.”