4. CrowdStrike Holdings Inc. (NASDAQ:CRWD)
Number of Hedge Fund Investors: 69
Jim Cramer reports that Evercore ISI has taken CrowdStrike Holdings Inc. (NASDAQ:CRWD) off its Tactical Underperform list, while keeping a buy rating and a price target of $325. The analysts suggest that long-term investors can take advantage of this opportunity.
“Evercore ISI removed CrowdStrike from its Tactical Underperform list. The analysts maintained their buy rating and a price target of $325. They said long-term investors can be opportunistic.”
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a positive outlook, bolstered by its strong position in the cybersecurity market, impressive financial results, and promising growth potential. In Q3 2023, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) exceeded expectations, demonstrating robust demand for its cloud security and identity protection offerings.
Despite a challenging macroeconomic environment, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) achieved significant profitability gains. Analysts forecast that tCrowdStrike Holdings, Inc. (NASDAQ:CRWD) will grow its earnings by 28.14% annually over the next few years, outpacing industry averages. Revenue is expected to increase at an annual growth rate of 18.12%, fueled by the growing adoption of its cloud security, identity protection, and AI-driven solutions.
As a leader in endpoint security, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is also expanding into areas such as SIEM, CNAPP, and identity security, leveraging its innovative AI and cloud technologies. Analysts express strong optimism, with price targets ranging from $222 to $334.80, reflecting confidence in CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s growth despite broader economic challenges.
TimesSquare Capital Management U.S. Focus Growth Strategy stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 2024 investor letter:
“Our cybersecurity holdings were also beneficial to the strategy this quarter. That included the 20% gain from CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a cloud-based network security service provider that supports a range of devices, endpoints, and cloud environments. CrowdStrike’s revenues and earnings exceeded expectations, with 33% growth in annual recurring revenue.
CrowdStrike continues to see growing momentum in emerging areas such as Cloud Security, Identity, and Security Information & Event Management where it is displacing legacy providers. That led CrowdStrike’s management to increase its guidance for revenues and earnings for the balance of its fiscal year.”
