Crowdstrike Holdings Inc. (CRWD) Rated as a ‘Buy’ at Truist Securities

Crowdstrike Holdings Inc. (NASDAQ:CRWD) is one of the best tech stocks to buy for the long term. On September 8, Truist Securities reiterated a ‘Buy’ rating on the stock and a $500 price target. The positive stance follows the stock’s impressive run, marked by a 71% gain over the past year.

Crowdstrike Holdings Inc. (CRWD) Rated as a ‘Buy’ at Truist Securities

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Truist Securities remains bullish about the company’s prospects following a meeting with CFO Burt Podbere. The executive reiterated optimism about growth in the second half of the year, supported by acceleration in net new annual recurring revenue. The increase will be driven by the strength of emerging businesses and the effectiveness of the Flex licensing model.

CrowdStrike aims to achieve $10 billion in total annual recurring revenue by 2031.  Consequently, it remains open to mergers and acquisitions as it looks to unlock new growth opportunities and expand its footprint.

Crowdstrike Holdings Inc. (NASDAQ:CRWD) is a global cybersecurity company providing cloud-delivered protection for endpoints, cloud workloads, identity, and data through its AI-powered Falcon platform. The company focuses on stopping cyberattacks and breaches by collecting and integrating data across an enterprise and offering various cloud modules via a subscription-based software-as-a-service (SaaS) model.

While we acknowledge the potential of Crowdstrike Holdings Inc. (NASDAQ:CRWD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRWD and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.