We recently compiled a list of the top 10 most promising tech stocks by hedge funds. In this article, we’ll take a look at how CrowdStrike Holdings (NASDAQ:CRWD) stands compared to other promising tech stocks.
Nasdaq poised for long-term gains
Big tech companies are expected to outperform in the coming months. On October 2, Ari Wald, head of technical analysis at Oppenheimer & Co., appeared in an interview with Yahoo Finance to discuss his market theory and why investors should consider high-growth companies. Explained.
Wald emphasized that the market is broad and is expected to remain high until the end of 2024. In addition, we expect the bullish cycle to remain intact and believe this trend will continue into 2025. Changes in high beta stocks and low volatility ratio stocks. We find that high-beta stocks cannot keep up with high-dividend, low-volatility stocks.
Given the rotating nature of the market, Wald expects higher beta names to make a strong comeback and regain leadership positions. Wald suggests that investors should consider investing in high-growth companies, as the Nasdaq and Russell 100 are expected to lead again. Trends show that Magnitude 7 is growing and rising as market conditions continue to stabilize.
It’s a mistake to look at tech stocks based on valuation alone, says a strategist.
Tech stocks have more room to run. On Oct. 14, Capital Area Planning Group Managing Partner Malcolm Etheridge appeared in an interview on CNBC to discuss the outlook for the technology market and reveal his favorite stocks.
Ethridge suggests that judging stocks solely on valuation is a big mistake, especially in the current market cycle, which is heavily influenced by the AI boom. Looking at the bigger picture, he believes there are plenty of positive opportunities within and outside of the great seven teams.
He added that megatech companies are spending billions of dollars to generate things like large-scale language models. He also suggests that the true value from these technologies is yet to come, as much of this technology is still not understood. These companies also have a lot of intrinsic value, and more should be realized soon.
Now that we’ve reviewed the outlook for the technology market, let’s take a look at the most promising technology stocks according to hedge funds. Also read our article on the most promising AI stocks by analysts.
our methodology
To find the most promising technology stocks by hedge funds, we scoured multiple ETFs, our own rankings, and similar rankings across the internet. We then ranked the most promising tech stocks based on hedge fund sentiment as of Q2 2024.
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Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 percentage points (Learn more ).
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CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Number of hedge fund holders: 69 people
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a cybersecurity company ranked #10 on hedge funds’ list of most promising tech stocks. The company offers a wide range of security products including identity management, threat intelligence, and threat detection.
The company has 29,000 customers across multiple sectors including healthcare, retail, technology, and government, reflecting its strong market position. Falcon, an AI-native cybersecurity platform, is the company’s flagship product, growing 80% year over year in Q2 2025. Despite the events of July 19, CrowdStrike Holdings (NASDAQ:CRWD) is resilient and demonstrating transparency and accountability. to that customer. Over the past 40 days, the company has entered into key partnerships, added innovations to its Falcon platform, and expanded its CrowdStrike marketplace to meet the growing demand for cybersecurity solutions.
On August 29th, Eric Heath, equity research analyst at KeyBanc Capital Markets, appeared in an interview with Yahoo Finance and discussed his stance on CRWD. He suggested that despite the global outage in July, the long-term opportunities offered by CRWD remain intact. He also added that the company is taking corrective measures to avoid such incidents in the future, and suggested that the company has grown since the incident and will continue to grow.
As reliance on software increases, so does the need for cybersecurity, making CrowdStrike Holdings (NASDAQ:CRWD) a key stakeholder now and in the years to come. That said, 69 hedge funds had a bullish view on the stock as of the end of Q2 2024, according to our Insider Monkey database.
Overall, CRWD ranks 10th on the list of most promising tech stocks, according to hedge funds. While we appreciate CRWD’s potential as an investment, we believe AI stocks have a better chance of delivering higher returns in a shorter time frame. If you’re looking for AI stocks that are more promising than CRWD but are trading at less than 5x earnings, check out our report on the cheapest AI stocks.
Read next: A $30 trillion opportunity: 15 humanoid robot stocks to buy as NVIDIA has ‘become a wasteland’, according to Morgan Stanley and Jim Cramer.
Disclosure: None. This article was originally published on Insider Monkey.
