In this article, we will take a look at the 5 best work-from-home (WFH) stocks to buy now. For a detailed analysis of these companies, go directly to the 10 Best Work-From-Home (WFH) Stocks to Buy Now.
5. CrowdStrike Holdings, Inc. (NASDAQ: CRWD)
Number of Hedge Fund Holders: 92
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is a California-based cybersecurity company founded in 2011. It is placed fifth on our list of 10 best work-from-home (WFH) stocks to buy now. Some of the services it offers include cloud workload and endpoint security, threat intelligence, and cyber attack response. The firm has operations in the United States, Australia, Germany, India, Israel, Romania, and the United Kingdom. CrowdStrike stock has returned more than 146% to investors over the past twelve months.
On April 15, CrowdStrike Holdings, Inc. (NASDAQ: CRWD) stock was given a Buy rating with a price target of $265 by investment advisory Deutsche Bank. The share price of the cybersecurity firm went up more than 2% after the ratings update.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Tiger Global Management LLC is a leading shareholder in the firm with 7.5 million shares worth more than $1.5 billion.
In its Q1 2021 investor letter, Carillon Tower Advisers, an investment management firm,, highlighted a few stocks and CrowdStrike Holdings, Inc. (NASDAQ: CRWD) was one of them.
“CrowdStrike provides cloud-based software used in the security of computers, servers, and mobile phones. The stock pulled back a bit during the quarter as investor sentiment shifted away from stocks with higher valuation multiples. We remain shareholders, as the protection of enterprise assets and cloud workloads from various forms of cyberattacks remains more important than ever for many enterprises, and we believe this will continue to result in a strong demand environment for CrowdStrike’s innovative products and services.”
4. Okta, Inc. (NASDAQ: OKTA)
Number of Hedge Fund Holders: 61
Okta, Inc. (NASDAQ: OKTA) is a San Francisco-based access management company. It is placed fourth on our list of 10 best work-from-home (WFH) stocks to buy now and was founded in 2009. The software firm marketed by the company helps businesses manage and secure user authentication into applications, website web services and electronic devices. Okta stock has returned more than 32% to investors over the past year. The products the firm sells include Okta Identity Cloud, Universal Directory, and Single Sign-on.
On April 22, investment advisory Raymond James initiated coverage on Okta, Inc. (NASDAQ: OKTA) stock with an Outperform rating and a price target of $300. Okra shares jumped close to 4% after the ratings update.
At the end of the fourth quarter of 2020, 61 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in the firm, up from 51 in the preceding quarter worth $1.8 billion.
3. DocuSign, Inc. (NASDAQ: DOCU)
Number of Hedge Fund Holders: 67
DocuSign, Inc. (NASDAQ: DOCU) is a California-based company that makes it easier for businesses to manage electronic contracts. It was founded in 2003 and is ranked third on our list of 10 best work-from-home (WFH) stocks to buy now. Some of the e-signature products offered by the firm include CLM, Gen, Negotiate, and Insights. DocuSign stock has returned more than 57% to investors in the past year. The firm has a market cap of more than $37 billion and posted more than $1.45 billion in annual revenue last year.
On March 12, investment advisory Evercore upgraded DocuSign, Inc. (NASDAQ: DOCU) stock to Outperform from In Line with a price target to $285. The company also posted strong quarterly earnings results for the last three months of 2020.
Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm Lone Pine Capital is a leading shareholder in the firm with 4 million shares worth more than $901 million.
In its Q3 2020 investor letter, Wasatch Core Growth Fund, an investment management firm,, highlighted a few stocks and DocuSign, Inc. (NASDAQ: DOCU) was one of them.
“We recently liquidated our shares of DocuSign, Inc. (DOCU), which offers e-signature software that enables businesses and individuals to digitally prepare and execute agreements. Utilization of the software spiked during the pandemic and the stock was an excellent performer, propelling the company’s market capitalization to over $40 billion. While we still like the company, the valuation set a higher bar for the future. With the proceeds of our DocuSign sale, we rotated into what we viewed as more reasonably priced names.”
2. Slack Technologies, Inc. (NYSE: WORK)
Number of Hedge Fund Holders: 66
Slack Technologies, Inc. (NYSE: WORK) is a San Francisco-based software firm founded in 2009. It is ranked second on our list of 10 best work-from-home (WFH) stocks to buy now. Slack stock has returned more than 31% to investors over the past year. The firm offers businesses software services that make it easier to manage communications between team members. In addition to the United States, the company operates in Ireland, Canada, England, Japan, India, and France, among several others.
Slack Technologies, Inc. (NYSE: WORK) purchased calendar application, Woven, for an undisclosed fee last month. The company had previously invested in the calendar app through the Slack Fund.
At the end of the fourth quarter of 2020, 66 hedge funds in the database of Insider Monkey held stakes worth $3.9 billion in the firm, up from 20 in the preceding quarter worth $164 million.
1. Zoom Video Communications, Inc. (NASDAQ: ZM)
Number of Hedge Fund Holders: 59
Zoom Video Communications, Inc. (NASDAQ: ZM) is a San Jose-based communications technology company founded in 2011. It is placed first on our list of 10 best work-from-home (WFH) stocks to buy now. Zoom stock has returned more than 73% to investors over the course of the past twelve months. The firm primarily provides video and text chat services through a cloud-based platform. The company markets these services for teleconferencing, telecommuting, distance education, and social relations.
On April 23, investment advisory Mizuho noted that Zoom Video Communications, Inc. (NASDAQ: ZM) stock had fallen after the vaccine rollout allowed business activities to resume but still had significant upside potential and could deliver 50% growth this year as businesses adopted the new video communication technology.
Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Coatue Management is a leading shareholder in the firm with 2.5 million shares worth more than $848 million.
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