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Top Stock Picks for Week of August 28, 2023

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CrowdStrike (CRWD - Free Report) is a leader in next-generation endpoint protection, threat intelligence and cyberattack response services.CrowdStrike is benefiting from the rising demand for cyber-security solutions owing to the slew of data breaches and increasing necessity for security and networking products amid the growing hybrid working trend. Continued digital transformation and cloud-migration strategies adopted by organizations are key growth drivers. Its portfolio strength, mainly the Falcon platform’s 10 cloud modules, boosts its competitive edge and helps add users. Additionally, strategic acquisitions, like that of Humio and Preempt, are expected to drive growth for the company. Our revenue estimates for CrowdStrike suggests CAGR of 29.1% through fiscal 2024-2026. CrowdStrike has a strong balance sheet with ample liquidity position and no debt obligations.  The company is scheduled to report second quarter fiscal 2024 results on August 30. Over the past 90 days, the Zacks Consensus Estimate for CRWD's full-year earnings has moved higher by triple digits. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Toll Brothers Inc. (TOL - Free Report) builds single-family detached and attached home communities; master planned luxury residential resort-style golf communities; and urban low, mid, and high-rise communities, principally on the land it develops and improves.Shares of Toll Brothers have outperformed its industry in the year-to-date period. The company's build-to-order approach and solid backlog level are encouraging. The lack of competition in the luxury housing market is a competitive advantage adding to the company’s growth. The company plans to drive shareholder value by returning cash to shareholders through regular share repurchases and dividend payments, highlighting its growth initiatives. Moreover, the company’s extensive geographic footprint and deep land position will allow it to grow its community count in fiscal 2023 and beyond. The companyreported an impressive third-quarter fiscal 2023 (ended Jul 31, 2023). Its top and bottom lines surpassed the Zacks Consensus Estimate and increased impressively on a year-over-year basis. The company outpaced its previously provided guidance for all the metrics amid ongoing challenges in the industry. 


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