10 Best High Volume Stocks To Buy According to Hedge Funds

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

Avg Volume: 8.19 million

Quarterly Revenue Growth: 31.74%

Number of Hedge Fund Holders: 69

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity company offering a broad range of security solutions, including identity management, threat intelligence, and threat detection.

BMO Capital remains optimistic about CrowdStrike’s performance, maintaining an Outperform rating and a $315 price target following the company’s Fal.Con 2024 user and analyst event. Despite potential revisions to estimates and some market volatility, BMO expressed confidence in the company’s strong position within the cybersecurity industry.

In its second fiscal quarter, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) exceeded expectations in annual recurring revenue (ARR), total revenue, and non-GAAP earnings per share. However, the company’s guidance for Q3 and fiscal year 2025 came in below consensus estimates, with management reaffirming their long-term ARR target of $10 billion by fiscal year 2031.

At the end of Q2 2024, 69 hedge funds held stakes in CrowdStrike Holdings, Inc. (NASDAQ:CRWD), with total investments reaching $3.01 billion. Citadel Investment Group was the largest shareholder, holding a position valued at $574.6 million as of June 30.

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.”