The post 2 tech stocks with ‘strong buy’ ratings for June 2024 appeared on BitcoinEthereumNews.com.

Technology stocks are highly attractive to investors due to their potential for significant growth and innovation. Leading tech companies drive advancements in artificial intelligence (AI), cloud computing, and digital transformation, revolutionizing many industries.  This focus on future technology positions them well for continued growth, particularly as the reliance on technology increases. While tech stocks can be volatile in the short term, they have historically proven to be strong long-term investments.  Smaller tech companies with lower valuations can offer even greater upside for investors seeking potentially undervalued opportunities. Several tech stocks have received “strong buy” ratings from Wall Street analysts, highlighting their promising outlooks. Finbold has identified two such stocks to invest in June 2024. CrowdStrike Holdings (NASDAQ: CRWD) As a leader in AI-native cybersecurity since launching its Falcon platform in 2013, CrowdStrike Holdings (NASDAQ: CRWD) has recorded one of the most impressive stock market rises in the last 12 months, surging 160.91%. This cybersecurity company earned its place in the S&P 500 after its market cap rose from $61.31 billion to $92.99 billion. In Q1 FY2025, CrowdStrike added $212 million in net new Annual Recurring Revenue (ARR), reaching a total ARR of $3.65 billion, up 33% year-over-year. Free cash flow surged by 42%, and its operating margin improved by 5%, reaching 22% on $199 million in operating income.  Valuation metrics further support its potential, with a trailing P/E ratio of 722.60, a forward P/E of 94.54, and a PEG ratio of 1.34, indicating fair value given its growth prospects. The enterprise value to EBITDA ratio is 240.32, highlighting high return potential. CrowdStrike’s growth was primarily driven by its success in newer product categories, such as SIEM, identity, and cloud security.  With 65% of its customers using five or more of its modules, and 62 of the Fortune 100 companies being…

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Filed under: News - @ June 25, 2024 7:12 pm