AI Revolution May Send These Two Stocks Higher
Working in the stock market is a data game. Getting the best information in a timely manner and knowing how to use it is the key to success. So here are some numbers to think about. According to industry market research, artificial intelligence companies and products are on the verge of explosive growth. The AI market is projected to exceed $ 9.5 billion in 2018, $ 27 billion in 2019, and $ 250 billion in 2027. AI refers to the use of data to simulate human intelligent processes such as learning, reasoning, and machine self-correction. AI is pervasive in almost every industry. From data collection and matching to automated systems from factories to self-driving cars to online shopping sites, we all benefit from AI applications. And this is not ignored by Wall Street. Analysts say there are a lot of attractive investments in this space. With this in mind, I opened the TipRanks database and found two AI stocks that were signed for approval by a five-star analyst. Equity professionals are ranked in the top 3% of peers. Find out why they recommend these two AI plays. Veritone, Inc. (VERI) The first AI stock we are considering is the software company Veritone. The software company’s flagship product, an AI-powered operating system called aiWARE, allows users to tune machine learning models and integrate different data sources. Audio and visuals – for practical intelligence results. The system boasts an open architecture and is applied to the entertainment, government, legal and media sectors. At the beginning of March, Beriton announced its fourth-quarter 2008 revenue, with quarterly revenue of $ 16.8 million, a 35% year-on-year increase. This increase was due to a year-on-year increase in sales due to a 53% increase in aiWARE SaaS and a 50% increase in Advertising. However, Veriton shares fell 49% from their February peak. Investors liked the strong financial situation, but there are concerns about the company’s future outlook. Management forecasts non-GAAP net losses in the range of $ 3.9 million to $ 4.4 million in the first quarter of 2009, although it shows a 38% improvement in the midpoint from the first quarter of 2008. , Investors want to see profits. However, Los Capital’s five-star analyst Darren Aftahi believes that this new, lower stock price could offer new investors the opportunity to enter VERI at a lower price. Aftahi sees this stock as a well-positioned AI growth story. “VERI gave better 4Q results, but more importantly, it’s accelerating top-line growth in both AI SaaS and advertising (both over 50%). Content and licensing business 2019 If the assumption of returning to the level of the year (with gradual growth) is correct in 2021, it means that the 2021 guide for advertising and AI SaaS (which was much better by the way) is north of 40% growth. (~ 30% for advertising, less than 60% for AI). Most importantly, the AI SaaS line led to 60-65% growth, doubling year-over-year growth. That’s what Aftahi said. In line with his comments, Aftahi valued the stock as a buy, and his $ 50 price target means 104% growth over the next year. (Click here to see Aftahi’s performance) Overall, with a share price of $ 24.53 and a consensus average price target of $ 38.75, VERI shares offer investors a 58% share growth opportunity this year. I will. A medium purchase, which is an analyst’s consensus rating, is based on 3 purchase reviews and 1 sale. (See TipRanks VERI stock analysis) Verint Systems (VRNT) Verint stocks have risen 107% in the last 12 months, most of which surged 31% in early February. This surge occurred in response to the company being split into two entities. Spin-off Cognyte took over parental intelligence and cyber operations, and Verint continued as a pure AI-powered customer engagement service. The company uses a combination of market experience and AI and analytics products to enable customers to optimize their automation, knowledge, and workforce. Verint’s 2021 fiscal year ended on January 31, the day before the split, and the company reported its fourth quarter and full-year results at the end of March. These results exceeded quarterly expectations, with total revenue of $ 349 million, up 3% year-over-year. However, for the full year, revenue of $ 1.27 billion was slightly below the $ 1.3 billion reported in the previous year. Fourth-quarter data heralds Verint, the incarnation of pure customer engagement, as the AI cloud sector grew more than 30% year-over-year in that quarter. Oppenheimer’s five-star analyst Timothy Horan, who calls Verint a “unique AI engagement company,” believes he is in a strong position to move the new Belint forward. “VRNT reported strong revenues in the fourth quarter and became a pure customer engagement AI company after the split. VRNT is successfully migrating to the SaaS / cloud model. New perpetual license booking (PLE) increased 15% this quarter. Transition from license sales is difficult, but has been significantly delayed since this quarter due to accelerated revenue growth. Existing customers due to cloud demand. And there was a healthy 50/50 split between new customers … ”Horan added: We believe we can continue to sign large-scale cloud transactions across contact centers and other industries. These are bright comments, and Horan supports them with an Outperform (ie Buy) rating and a $ 60 price target that indicates there is room for growth of up to 32% over the next 12 months. (Click here to see Horan’s performance) Overall, on Wall Street, there is a broad agreement that Belint will buy, as the unanimous strong-by-analyst consensus rating shows. .. It is based on the last 6 positive reviews. The average stock price target is $ 59.33, suggesting that it could rise about 30% from the current trading price of $ 45.50. (See TipRanks VRNT Stock Analysis) To find good ideas for AI stocks traded in attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly released tool that integrates all of TipRanks’ stock insights. please. Disclaimer: The opinions expressed in this article are only those of the analysts of interest. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making an investment.