10 Best Machine Learning Stocks According to Analysts

1. Hesai Group (NASDAQ:HSAI)

Number of Hedge Fund Investors  in Q1 2024: 7

Analyst Average Share Price Target: $10.65

Upside: 130%

Hesai Group (NASDAQ:HSAI) is the only hardware machine learning stock on our list. While this might sound a bit counterintuitive, given the software heavy stocks so far, it nevertheless stands to benefit strongly from the uptick in machine learning. This is because Hesai Group (NASDAQ:HSAI) sells LiDAR products that are used in autonomous driving fleets, driver assistance platforms, and logistics, cleaning, and other robots. All these systems rely on machine learning, as you might have learned if you read our coverage of Symbotic in this list. Electric vehicle maker Tesla’s assisted driving platform FSD also relies on these sensors to calibrate its models, and these use cases combined leave Hesai Group (NASDAQ:HSAI) with a large market at its disposal. Hesai Group (NASDAQ:HSAI) is also aware of this potential, and it has teamed up with machine vision classification firm CRATUS to develop autonomous warehouse robots.

HSAI’s LiDAR potential might have made it a hot machine learning stock. However, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than HSAI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None.