5 Nasdaq Sleeper Stocks to Buy Before Wall Street Wakes Up

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

Number of Hedge Fund Holders: 77

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is another information technology company on our list. It provides cloud-delivered protections across endpoints and cloud workloads, identity, and data.

On November 2, Macquairie’s Frederick Havemeyer initiated coverage of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares with an Outperform rating and a $220 price target.

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a leading cybersecurity company. The number of customers subscribing to the company’s Identity Protection modules in the fiscal first quarter of 2023 grew over 30% quarter-over-quarter. The company has seen its endpoint market share grow drastically between 2019 and 2022, from 6.3% to 12.6%.

Our hedge fund data shows 77 funds long CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the second quarter, with a total stake value of $4.1 billion.

Carillon Tower Advisers, an investment management company, mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its second-quarter 2022 investor letter. Here’s what the firm said:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a security software platform for protecting information technology assets and cloud workloads, delivered strong earnings results, with solid recurring revenue, customer growth, and profitability. Some investors, however, hoped for bigger numbers on the annual recurring revenue metric. Additionally, CrowdStrike has shown a desire to continue to hire to fuel growth, and so the expected increase in future profitability will be held back somewhat in the near term. We remain positive on the company’s prospects, as current geopolitical tensions make cyber security mission-critical.”

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