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CrowdStrike Holdings Inc (Nasdaq: CRWD) is among notable names that joined the S&P 500 on Monday. Its shares are up close to 10% at writing.
CrowdStrike stock versus Palo Alto Networks
Strength in CrowdStrike stock today may be related to the “Index Effect” or increased demand from institutional investors and index funds. Still, it’s not yet too late to invest in CRWD shares, as per famed investor Jim Cramer. On CNBC’s “Morning Meeting“, he said today:
There’s a big short position which is totally mistaken, 100% mistaken.
In fact, the Mad Money host went on to reveal that he wishes he opted for CrowdStrike instead of Palo Alto Networks (PANW) for his Charitable Trust even though the latter has done very well over the long-term as well. CrowdStrike stock price is currently up more than 50% versus the start of 2024.
Cramer has confidence in CRWD chief executive
The widely followed investor Jim Cramer has immense confidence in the leadership of George Kurtz – the chief executive of CrowdStrike Holdings Inc. His bullish remarks on CRWD shares arrive only days after the cybersecurity technology company reported its financial results for its first quarter. CrowdStrike also raised its guidance for the full year last week. At the time, its CEO Kurtz said:
The Falcon platform’s differentiated architecture creates a wide competitive moat and uniquely enables CrowdStrike to solve the industry’s biggest cybersecurity, IT, and data problems.
CrowdStrike does not, however, pay a dividend at writing. In May, the cybersecurity firm teamed up with Cloudflare and eSentire.
Is it too late to invest in CrowdStrike shares?
Who shares Cramer’s optimism in CrowdStrike share price is Brian Essex of JPMorgan. The analyst recently reiterated his “overweight” rating on the Nasdaq-listed firm and said its shares could climb to $400 – up another 5.0% from here.He’s constructive on CRWD stock as it could reshape the platform landscape in cybersecurity. Essex expects the firm based out of Austin, Texas to hit $100 billion in market cap by the end of 2024.The JPMorgan analyst recommends owning shares of CrowdStrike Holdings Inc. because it has a superior business model in terms of market penetration. Robust demand and positive feedback from partners and insiders of the industry positioned them well for future gains, he added.Despite outperformance in 2024, Brian Essex is convinced that CRWD is underappreciated in terms of margin and free cash flow.More By This Author:Apple WWDC 2024: Here’s What You Should Expect
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