Jim Cramer Recommends These 10 Stocks

5. CrowdStrike Holdings Inc. (NASDAQ:CRWD)

Number of Hedge Fund Investors: 69

CrowdStrike Holdings Inc. (NASDAQ:CRWD) is a leading player in the cloud-native endpoint security space, known for its Falcon platform that offers extensive protection against various cyber threats, including malware, ransomware, and advanced persistent threats. CrowdStrike Holdings Inc. (NASDAQ:CRWD)’s strong financial performance is highlighted by significant revenue growth, high profitability, and increasing subscription revenue. Its subscription-based model provides reliable, recurring income, bolstered by a growing customer base and expanded product offerings.

Jim Cramer reports that Bernstein has reduced its price target for CrowdStrike Holdings Inc. (NASDAQ:CRWD) ahead of the company’s earnings report scheduled for August 28. Analysts believe that the recent global IT outage is not expected to significantly impact CrowdStrike Holdings Inc. (NASDAQ:CRWD)’s customer retention.

“Bernstein lowered its price target on Crowdstrike to $315 a share from $381 ahead of the cybersecurity company’s earnings report Aug. 28. Analysts argued that elevated churn tied to the global IT outage last month seems unlikely. While margins may take a near-term hit, analysts expect a rebound over the longer term.”

CrowdStrike Holdings Inc. (NASDAQ:CRWD)’s robust customer acquisition and retention, including major enterprises and government agencies, further solidify its growth prospects and stability, making it a compelling investment opportunity.

Carillon Eagle Mid Cap Growth Fund stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 2024 investor letter:

“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a security software provider, reported strong earnings results, which stood in contrast to some competitors. Strength in endpoint security, cloud security, vulnerability management, and identity protection drove revenue growth and profitability ahead of expectations for the quarter and outlook. The cyber threat environment remains elevated, and it is likely that the rise of artificial intelligence (AI) will make it easier for criminals and threat actors to design and launch sophisticated attacks, increasing the need for CrowdStrike.”