S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Best Buy reports lower 4Q sales and profits as shoppers remain cautious
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
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From Hometown Hero to Franchise Partner — 3 Celebrities Collaborating With Their Hometown Brands
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Best Buy reports lower 4Q sales and profits as shoppers remain cautious
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
From Hometown Hero to Franchise Partner — 3 Celebrities Collaborating With Their Hometown Brands
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Best Buy reports lower 4Q sales and profits as shoppers remain cautious
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
From Hometown Hero to Franchise Partner — 3 Celebrities Collaborating With Their Hometown Brands
S&P 500   5,096.27
DOW   38,996.39
QQQ   439.00
Pure Storage, Hormel Foods rise; WW International, First Advantage fall, Thursday, 2/29/2024
Critical asset just had biggest fall on record (Ad)
How major US stock indexes fared Thursday, 2/29/2024
Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Best Buy reports lower 4Q sales and profits as shoppers remain cautious
Grads From This Midwestern School Are More Likely to Start a Billion Dollar Company Than Founders Who Went To Stanford, Harvard, or MIT: Study
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
It's Leap Day, and You're Probably Working — Here's How 'February 29' Affects Your Paycheck
From Hometown Hero to Franchise Partner — 3 Celebrities Collaborating With Their Hometown Brands

3 tech outperformers adored by analysts

futuristic graphic with words tech stocks

Key Points

  • CrowdStrike (CRWD) has soared by 130% year-to-date, standing out as a top performer in the cybersecurity sector.
  • Adobe (ADBE) leads in digital content creation, boasting an 80% year-to-date surge and recent analyst upgrades.
  • Zscaler (ZS) has surged nearly 78% this year, showcasing robust growth in cloud security and exceeding earnings expectations.
  • 5 stocks we like better than CrowdStrike

The technology sector has led the way in 2023, boasting incredible gains and technological advancements, especially in Artificial Intelligence (AI). The Invesco QQQ ETF NASDAQ: QQQ, which tracks the performance of the Nasdaq-100 Index, is up an impressive 47.28% versus the overall market, up 20.34%.

Amidst this tech landscape and outperformance, focusing on companies recently upgraded by analysts within this sector holds substantial significance. Analyst upgrades often signal positive outlooks, reflecting improved earnings potential, innovative advancements, or strategic changes within these companies. 

So, identifying and considering these upgrades can be pivotal for investors seeking to capitalize on emerging opportunities and potential growth within the technology sector. Especially when a company has outperformed the top-performing sector and recently received upgrades from analysts. 

Here are three stocks that have outperformed the sector and continue to receive praise from analysts.

CrowdStrike NASDAQ: CRWD

CrowdStrike has been at the forefront of combating cyber threats. With its acclaimed Falcon system and services, including endpoint security and threat response, the company earned renown for its role in high-profile cases like the Sony Pictures and DNC hacks. 

Its stock, CRWD, has significantly outperformed the overall sector with its remarkable 130% year-to-date gain. Along with being one of the top-performing stocks in the sector, it’s also a Top-Rated Stock and one of the Most Upgraded Stocks.

crwd stock analysis on marketbeat

Based on 35 analyst ratings, CRWD has a Moderate Buy rating. Of the 35 ratings, 33 are a Buy, and just 2 are Hold. Most recently, following their earnings release on November 28, as many as 16 analysts took action, with many of them boosting their target for CRWD and reiterating their bullish rating for the stock. 


Adobe NASDAQ: ADBE

Adobe is a global software giant headquartered in San Jose, California. Renowned for products like Adobe Acrobat, Photoshop, and Illustrator, it leads in digital content creation tools and subscription services via Creative Cloud. 

The $277 billion company is having a stellar year, with its stock up over 80% year-to-date and fast approaching its all-time high, near $700 from 2021. Adobe, expected to report earnings on December 13, has a projected earnings growth of 11.40% and last topped the consensus estimate by $0.11, posting $4.08 EPS for the previous quarter. 

adbe analyst ratings marketbeat

Adobe’s stock is one of the most upgraded stocks, and, notably, it has recently received an upgrade and price target increase from two analysts ahead of its earnings report. Based on 27 analyst ratings, ADBE has a Moderate Buy rating and price target of $608.46, almost in line with its current share price. 

Zscaler NASDAQ: ZS

Zscaler is a pioneering cloud security firm transforming digital security with its cloud-native platform. It offers diverse security services and serves global industries, including significant clients like Siemens and the U.S. Federal Government.

Like the above stocks, shares of Zscaler have significantly outperformed the technology sector, boasting almost 78% gains year-to-date. The company recently reported its quarterly earnings on November 27 and exceeded expectations, reporting earnings per share of $0.67, surpassing the consensus estimate by $0.18. The company generated $496.70 million in revenue for the quarter, marking a 39.7% increase year-over-year, outperforming analysts' anticipated revenue of $473.36 million.

zscaler analyst rating marketbeat

ZS is among the most upgraded stocks, with a consensus analyst rating of moderate buy based on 35 analyst ratings. Of the 35 ratings, 25 are a Buy, 1 is a Strong Buy, and 9 are Hold. Following the recent release of their quarterly earnings report, fourteen analysts took action, with many either increasing their price target or reiterating their rating. 

→ Critical asset just had biggest fall on record (From Stansberry Research) (Ad)

Should you invest $1,000 in CrowdStrike right now?

Before you consider CrowdStrike, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CrowdStrike wasn't on the list.

While CrowdStrike currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
CrowdStrike (CRWD)
4.4354 of 5 stars
$324.15+1.0%N/A-5,401.60Moderate Buy$264.24
Zscaler (ZS)
3.955 of 5 stars
$241.97+2.0%N/A-208.59Moderate Buy$218.74
Adobe (ADBE)
4.6745 of 5 stars
$560.28+1.5%N/A47.44Moderate Buy$613.14
Invesco QQQ (QQQ)N/A$439.00+0.9%0.53%N/AN/AN/A
Compare These Stocks  Add These Stocks to My Watchlist 

Ryan Hasson

About Ryan Hasson

  • Ry.has7@gmail.com

Contributing Author

Technical Analysis, Momentum Trading, Risk Management

Experience

Ryan Hasson has been a contributing writer for MarketBeat since 2023.

Areas of Expertise

Equity research and analysis, technical analysis and price action, market sentiment and underlying themes, risk management and trading psychology

Education

Bachelor of Commerce in Financial Management

Past Experience

Equities trader, Kershner Trading Group, business analysis consultant, SMB Capital

Zoom International: Business Analysis Consultant.


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