Jim Cramer Is Talking About These 5 Stocks

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

Number of Hedge Fund Holders: 80

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based cybersecurity services. During the Lightning Round of his show on July 14, Cramer outlined his thoughts on the company in response to a viewer’s question about the winners in the cybersecurity space, stating that he thought that the firm was the “number two” in the cybersecurity business. He added that he believed that Palo Alto Networks, the California-based competitor of CrowdStrike, was the “number one” company in the sector. 

On June 6, Morgan Stanley analyst Hamza Fodderwala upgraded CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock to Overweight from Equal Weight and raised the price target to $215 from $195, noting the stock offered a defensive position in an uncertain macro environment. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC  is a leading shareholder in CrowdStrike Holdings, Inc. (NASDAQ:CRWD), with 8.8 million shares worth more than $2 billion. 

In its Q1 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was one of them. Here is what the fund said:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-delivered, next generation security solutions via its Falcon platform consisting of endpoint protection, advanced persistent threat, security information, event management, and cloud workload protection. Shares rose 11% in the first quarter, on the back of impressive quarterly results with net new annual recurring revenue (ARR) accelerating for the second straight quarter to 52% year-over-year and the company’s favorable unit economics driving 30% free cash flow margins. Moreover, key new disclosures highlight how non-end-point products are seeing momentum with cloud product-generated ARR surpassing $100 million, representing 8% of net new ARR in the quarter. With more workloads migrating to or starting in the cloud, we believe CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is well positioned to compound at high growth rates for years given its unique product platform and attractive go-to-market business model.”