Tiger Global’s 15 Long-Term Stock Picks

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

Number of Hedge Fund Holders: 74    

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-delivered protection across endpoints and cloud workloads, identity, and data. The company features on the list of long term stock picks of Tiger Global as it has consistently featured in the 13F portfolio of the fund since the second quarter of 2019. Tiger Global has steadily increased its stake in the company since then. Latest filings show that this stake comprised 900,000 shares at the end of the third quarter of 2024 worth over $252 million, representing 1.07% of the 13F portfolio.

There are several reasons why Tiger Global and Wall Street analysts like Adam Borg of Stifel, who recently raised the price target on the stock to $400 from $375 and kept a Buy rating on the shares, are bullish on CrowdStrike Holdings, Inc. (NASDAQ:CRWD). Some of these include premium growth metrics, high-value contracts, and strong client retention. CrowdStrike aims for $10 billion annual recurring revenue (ARR) by FY2031, tapping into a $250 billion AI-native cybersecurity market. In the third quarter of this year, this value surpassed $4 billion, growing 27% year-over-year with 115% net retention.

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