Analysts have carefully analyzed and put forth the 6 best AI Stocks to invest in to double your amount of money. The metrics of the analysis provide for a significant chance for the growth potential of these AI stocks chosen in the future. Keep reading to find out which ones are they!
For unparalleled stock insights, analysis, and smart screens, subscribe to our Premium Plan
1. Joby Aviation (JOBY:NYE):
Headquartered in California, Joby Aviation is an aviation company currently working on developing an electric air taxi service. It intends to use AI for electric aircraft in takeoff and landing. The flying car shares of (JOBY:NYE) stock went up by 61% in June 2023, recently. This makes excellent news for the investors.
JOBY Stock Analysis:
The JOBY stock price is USD 8.28 currently. The analysts expect it to have a downside potential of 3.38%. That decreases the average analyst target slightly, making it USD 8.00 in the next 12 months. Joby Aviation has a market CAP of USD 5.53 Billion.
The analyst Cantor Fitzgerald and Co. recently raised the price target of JOBY stock from USD 9 to USD 10. It has had low earnings growth in the past 5 years and a negative cash flow in the past year as well.
However, being one the best AI stocks, (JOBY:NYE) has low volatility and is underpriced compared to the rest of its peers as well. The analysts hold the ‘Bearish’ view on the JOBY stock and rate it as a “Hold” at the moment.
2. Archer Aviation Inc. (ACHR:NYE):
Formerly known as Atlast Crest Investment Corp, this is an aviation company as well as above mentioned Joby Aviation. Archer Aviation focuses on designing, developing, and operating electric vertical takeoff and landing aircraft to carry passengers. The company has recently joined hands with a French aircraft company, Safran to make its dream of personal flying vehicles come true.
ACHR Stock Analysis:
With a market performance giving a capital gain value of 201.07% in the aircraft industry, Archer Aviation (ARCHR:NYE) deems itself progressive. Currently, the ACHR stock price is USD 5.71. The average analyst target is expected to reach USD 9.00 giving it a rising potential of 57.62%. Archer Aviation’s market CAP is USD 1.42 Billion.
Although its high volatility makes it risky, the positive free cash flow in the past four quarters makes it a plus. The analysts have highly rated it as a “Strong Buy” as they believe it is one of the best AI stocks to invest in, even better than Joby.
3. IONQ Inc. (IONQ:NYE):
AI paired with quantum computing could change the dynamics of the industry. It could revolutionize the world. That is exactly what IonQ Inc. (IONQ:NYE) is currently working on. The extremely complex tasks could be carried out in a tiny frame of a second without worry.
IONQ Stock Analysis:
The current IONQ stock price is USD 15.33. In the coming 12 months, the analysts expect it to have a downside potential of 28.25% and hence the average analyst target price has decreased to USD 11. IONQ has a market CAP of USD 3.5 Billion. It provides a dividend rate of 1.95% in the sector median.
IONQ stock is unstable due to its high volatility in the market but the analysts consider it a risk worth taking. Moreover, it has had low revenue and earnings growth in the last four quarters. The analysts predict it is best to buy the IONQ stock with an average “Strong Buy” rating.
4. ICAD Inc. (ICAD:NSD):
Although ICAD (ICAD:NSD) has not had much success in the past 34 years, its partnership with AI may now prove to be fate-changing. With AI-powered image analysis, healthcare providers would have a 100% chance of detecting breast cancers, which may be missed at present times. The new CEO Dana Brown was a breath of fresh air for the company. She has complete belief in the success of ICAD.
ICAD Stock Analysis:
The current ICAD stock price is USD 2.68. The average analyst target is expected to hit USD 3.58 with 33.71% as upward potential in the next year. The market CAP of ICAD is USD 0.07 Billion.
ICAD has a high gross profit-to-asset ratio. However, it is more overpriced than the rest of its peers and has high volatility. The analysts recommend the ICAD stock as a “Strong buy” at the moment. ICAD could soon turn into a billion-dollar business if led on with the right vision.
5. Evolv Technologies Holdings Inc. (EVLV:NSD):
Weapon metal detectors are often annoying when they buzz at every metal such as our phone or keys. By pairing up with Artificial Intelligence, Evolv (EVLV:NSD) would be able to detect weapons in a flash by analyzing their radio frequency. It would not beep at any other metal than weapons. This would speed things up and save one from long security checkup queues. Advanced AI-based weapon detection could bring about a great deal of progressive change for the company.
EVLV Stock Analysis:
Currently, the EVLV stock price is USD 6.11. It is expected to have a positive potential of 7.04% and increase the average analyst target slightly to USD 6.54. The market CAP of Evolv is USD 0.94 Billion.
EVLV stock has performed well on risk-adjusted basis in the past 12 months. Its high volatility makes it risky but it is underpriced compared to its earnings. Analysts consider it one of the best AI stocks to invest in. They rate it as a “Strong Buy” as they expect the revenues to go up by 53% in 2024.
6. International Business Machines (IBM:NYE):
International Business Machines (IBM:NYE) uses different business segments to provide integrated solutions and services worldwide. With the evolution of AI, profits for IBM have been on the rise. The company is expected to become a dominant leader in its field in the coming times.
IBM Stock Analysis:
IBM is one of the best AI stocks and could be the next trillion-dollar company. Its current stock price is 145.91. Analysts predict a downside potential of 0.85% taking the average analyst target to 144.67. IBM’s market CAP is USD 131.40 Billion.
The positive cash flow and its high market capitalization add to the pros of IBM stock. Moreover, it has low volatility which makes it a stable stock. However, for the past five years, the company has provided below-median dividend returns. The analysts rate the IMB stock as a “Buy”.
Conclusion:
In conclusion, these are the best AI selected stocks to consider if you intend to invest in the stock market in the near future. The analysts have high hopes for the success of these AI picked stocks. To stay up-to-date with the latest stock information, and sector performance, visit Stock Target Advisor’s Stock Screener now!
