8 Best FAANG Stocks To Buy According to Analysts

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

Analyst Upside as of October 22, 2024: 5.3%

Number of Hedge Fund Holders: 69

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity company that ranks 6th on our list of the best FAANG stocks to buy according to analysts. The company provides a range of security products including identity management, threat intelligence, and threat detection.

The company has 29,000 clients in multiple sectors including healthcare, retail, technology, and the government, reflecting its strong position in the market. Its AI native cybersecurity platform, Falcon is its primary product, growing at 80% year-over-year, in FQ2 2025. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has recently closed crucial partnerships, added innovations to its Falcon Platform, and expanded its CrowdStrike Marketplace to meet the growing demand for cybersecurity solutions.

Despite the July 19 incident, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has been resilient and showcased transparency and accountability to its customers. However, the company must sustain its efforts towards making customers happy. On August 28, Fatima Boolani, Citi US software equity research co-head, appeared in an interview on Yahoo Finance to discuss CRWD following the global outage. She shares that CRWD management has a lot of tasks especially when it comes to rebuilding its trust among investors and managing the impact of their business impact. She adds that the company has an appetite and regaining consumer confidence should remain the primary focus. Boolani argued that since there is a lack of talent in cybersecurity, AI can potentially fill the gap, that CRWD is in the crosshairs of in a positive way.

As Boolani said, the market currently lacks talent in cybersecurity, giving CrowdStrike Holdings, Inc. (NASDAQ:CRWD) an edge and putting it ahead of its competitors. 69 hedge funds were bullish on the stock as of Q2 2024, according to our Insider Monkey database.

ClearBridge Investments’ ClearBridge Growth Strategy stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q3 2024 investor letter:

“Shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a global cybersecurity leader, came under pressure following a software content update in July that caused widespread disruptions across its client base. Importantly, the outage was not caused by a security breach and we are encouraged that the company was swift and transparent in its response and support for customers. While some level of recompense will be required, after ongoing dialogue with company management, we are optimistic that thoughtful remediation efforts, such as offering flexibility around new module uptakes, will position the company well for future growth. Shares have since rebounded on the back of better than feared channel feedback, which suggests CrowdStrike remains a best-in-class provider in the eyes of customers.”