These three stocks are preferred by top Wall Street analysts for long-term investment.

This week, the major averages fell as investors' concerns about prolonged higher interest rates resurfaced.

Despite current market instability, it is crucial for investors to maintain a long-term perspective and identify stocks that provide promising returns in the future.

According to TipRanks, which ranks analysts based on their past performance, the Street's top pros favor these three stocks.

CrowdStrike

This week's initial stock selection is cybersecurity provider CRWD. The company has recently shown investors strong quarterly results and positive outlook. Additionally, it was recently announced that CRWD would acquire Flow Security, which offers cloud data runtime security solutions.

CrowdStrike's Falcon Cloud Security, Identity, and next-gen LogScale SIEM offerings are experiencing strong demand, with management revealing that these products generated more than $850 million in annual recurring revenue.

CrowdStrike is viewed as a beneficiary of generative artificial intelligence by the analyst. Moskowitz maintained a buy rating on CRWD stock and increased the price target from $360 to $390.

CrowdStrike Ownership Structure on TipRanks shows that Moskowitz ranks No. 132 among more than 8,700 analysts tracked by TipRanks. His ratings have been profitable 62% of the time, with each delivering an average return of 16.5%.

Nike

Nike, an athletic footwear and apparel maker, has been reiterated as a "best idea" by Guggenheim analyst Robert Drbul, who maintains a buy rating on the stock with a price target of $130. The analyst believes that the current pullback in the stock, which has declined more than 8% in 2024, presents an attractive entry point with a favorable risk/reward profile.

Drbul stated that Nike is preparing for significant product launches, led by basketball and running, to drive growth in the second half of 2024 and into 2025.

The analyst predicts that the company's focus on the competitive running category will increase after losing ground in recent years. He believes that the growth of the category will be supported by new launches, including the Pegasus 41.

Drbul anticipates the Nike brand to have a prominent presence at the 2024 Summer Olympics. He also believes that the Jordan brand remains strong and presents a significant opportunity for the company in various international, women's, and kids' segments. Moreover, he noted that the Jordan brand is on track to become the second-largest brand in North America.

The analyst predicts that the company can increase its gross margin through higher prices, better ocean freight rates, and improved supply chain efficiency, despite higher product costs.

Among more than 8,700 analysts tracked by TipRanks, Drbul holds the 565th position. His ratings have been profitable 59% of the time, with each delivering an average return of 7.9%. (See Nike Stock Buybacks on TipRanks)

BJ's Wholesale Club

BJ warehouse chain reported mixed results for the fourth quarter. While the company's earnings exceeded analysts' expectations, revenue growth of 8.7% year over year did not meet expectations.

The analyst believes that BJ's is making significant advancements in transforming its general merchandise business through various initiatives, such as improving its product selection and marketing strategies. Notably, it is predicted that general merchandise sales will surpass grocery sales in FY24.

Benedict emphasized BJ's robust real estate portfolio and its plan to launch 12 new clubs in the current year. Additionally, he observed the retailer's impressive membership growth, with membership fee revenue rising by 6.5% in the last quarter and the tenured renewal rate remaining stable at 90%.

The analyst stated that BJ remains an attractive long-duration mid-cap staple GARP idea due to its healthy balance sheet and still-reasonable valuation.

Benedict is ranked No. 74 among over 8,700 analysts on TipRanks, with a profitable rating 69% of the time and an average return of 15.2% per rating. (Check out BJ's Wholesale Technical Analysis on TipRanks)