Oppenheimer raises price target to $410 after strong third-quarter performance

We recently compiled a list of the 15 AI news you shouldn’t ignore. In this article, we’ll take a look at where CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stands compared to the other AI stocks.

Even as the US pursues a tougher trade policy towards China – recent signs include tightening export restrictions on advanced AI chips – companies from the Asian country continue to debut on the US stock market with increased investor interest. For example, Pony AI, a China-based autonomous vehicle technology company, recently conducted an IPO that saw shares rise 15% in its market debut, pushing the company’s value to over $5.25 billion. The Reuters news agency reports that the successful debut also suggests a positive attitude among investors towards China-based companies.

For more information on these developments, see The 10 Best AI Data Center Stocks And 10 Booming AI Stocks According to Goldman Sachs.

The stock’s IPO price was $13 per share, but depositary shares opened at $15 in their Nasdaq debut, according to the report. Even after the stellar debut, the new company faces several challenges, the report continued, including public skepticism about autonomous vehicles, privacy concerns and competition from companies including Tesla, which has promised to introduce driverless ride-hailing services to the public in California and Texas next year. The company said its U.S. operations will remain limited for the foreseeable future.

For more information on these developments, see 30 The most important AI stocks according to BlackRock And Beyond the Tech Giants: 35 Non-Tech AI Opportunities.

For this article, we selected AI stocks by reviewing news articles, stock analysis and press releases. These stocks are also popular with hedge funds. Why do we care about the stocks hedge funds invest in? The reason is simple: Our research shows that we can outperform the market by mimicking the top stock picks of the best hedge funds. Our quarterly newsletter strategy selects 14 small-cap and large-cap stocks each quarter and has returned 275% since May 2014, outperforming its benchmark by 150 percentage points (see more details here).

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Number of hedge fund owners: 74

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) provides cloud-based protection for endpoints and cloud workloads, identities and data. The company uses artificial intelligence to optimize and strengthen cyber protection. On November 27, Oppenheimer increased the stock’s price target to $410 from $365 and maintained an “Outperform” rating on the stock. In the advisory notes, CrowdStrike reported a strong third quarter that beat revenue/bottom-line estimates while also following the 7/19 outage. maintained strong gross retention and module acceptance. Oppenheimer expects the stock to remain rangebound until investors gain more clarity on the ARR comments.

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