5 Best Up and Coming Stocks To Invest In

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

Number Of Hedge Fund Holders: 80

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is an American cybersecurity technology company based in Austin, Texas, that provides cloud workload and endpoint security, threat intelligence, and cyberattack response services. The company increased its annual recurring revenue (ARR) by 65% in its 2022 fiscal year to $1.7 billion, and forecasts a rise to $5 billion by its 2026 fiscal year.

On May 23, Stephens analyst Brian Colley initiated coverage of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) with an Overweight rating and a $232 price target. The analyst cites four key reasons behind this initiation, one of which is a “sizable underpenetrated opportunity in the cloud security market.”

80 out of the 912 hedge funds tracked by Insider Monkey held stakes in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the first quarter of 2022, worth $5.55 billion, compared to 74 in the preceding quarter, holding stakes in CrowdStrike Holdings, Inc. (NASDAQ:CRWD) valued at $5.23 billion. Among these, 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.

Baron Funds, in its Q1 2022 investor letter, mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD). Here is what the fund said:

“CrowdStrike, Inc. provides cloud-delivered, next generation security solutions via its Falcon platform consisting of end-point 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 is well positioned to compound at high growth rates for years given its unique product platform and attractive go-to-market business model.”

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