Jim Cramer’s Bold Predictions About These 10 SaaS Stocks

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

Number of Hedge Fund Holders In Q3 2024: 74

Date of Cramer’s Comments: 8-29-30

Performance Since Then: 32.2%

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity firm that was at the center of a major logic error earlier this year when its faulty Falcon software update crashed millions of computers worldwide. Since the July crash, the software stock has yet to recover all of its lost value. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)’s climb to previous highs has been a slow affair as investors gradually regain confidence in its ability to navigate through the fallout. The shares gained 11% in November after President-elect Trump’s victory in the November election. Here’s what Cramer said in August:

“It’s been a crazy couple of months for Cramer favorite CrowdStrike, the cybersecurity company that made headlines for all the wrong reasons back on July 19th when a botched update caused widespread tech issues, shutting down millions of systems globally. There was a lot of speculation that these problems could hurt their business, but last night, CrowdStrike reported strong sales, excellent earnings, and terrific customer retention.

“As a result, the stock jumped nearly 3% today and was up even more at one point. While it’s still down over 30% from last month’s all-time high, it has rebounded 35% off its recent lows, where I said it had bottomed out. Could this have more room to run?”