5 Best Artificial Intelligence Stocks to Buy Now According to Wall Street Analysts

In this piece, we will take a look at the five best artificial intelligence stocks to buy now according to Wall Street analysts. If you want to learn about all that’s been happening in the AI industry, then read 12 Best Artificial Intelligence Stocks to Buy Now According to Wall Street Analysts.

In this article we covered the best AI stocks to buy according to analysts. However, we also did our research and identified the cheapest AI stock that is trading at less than 5 times its market value excluding cash and investments with the potential to deliver 100x returns. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. You can subscribe to our free daily enewsletter by entering your email address below. Now, let’s take a look at the 5 best AI stocks to buy according to analysts.

5. Workday, Inc. (NASDAQ:WDAY)

Number of Q4 2023 Hedge Fund Shareholders: 81

Average Analyst Share Price Target: $318

Average Analyst Share Price Target Percentage Upside: 27%

Workday, Inc. (NASDAQ:WDAY) is a software company that helps businesses manage their daily financial operations. The firm has been doing well on the financial front as of late, since it has beaten analyst EPS estimates in all four of its latest quarters.

At the end of 2023, 81 out of the 933 hedge funds followed by Insider Monkey were among Workday, Inc. (NASDAQ:WDAY)’s shareholders. Andreas Halvorsen’s Viking Global owned the biggest stake that was worth $1.1 billion, according to its last 13F filing.

4. Accenture plc (NYSE:ACN)

Number of Q4 2023 Hedge Fund Shareholders: 58

Average Analyst Share Price Target: $390

Average Analyst Share Price Target Percentage Upside: 28%

Accenture plc (NYSE:ACN) is an Ireland-based information technology company that enables businesses to digitally transform their operations. The shares are rated Buy on average, and the average analyst share price target is $389.77.

Among hedge funds we track, 58 funds cheld a stake in the firm. Accenture plc (NYSE:ACN)’s largest shareholder in our database is Guardian Capital’s GuardCap Asset Management through its $610 million position.

3. Uber Technologies, Inc. (NYSE:UBER)

Number of Q4 2023 Hedge Fund Shareholders: 129

Average Analyst Share Price Target: $87

Average Analyst Share Price Target Percentage Upside: 28%

Uber Technologies, Inc. (NYSE:UBER) is one of the strongest rated AI stocks on our list as the shares have Strong Buy consensus rating. The firm was at the center of controversy in April 2024 when authorities in Portugal raided its offices for a tax investigation. Uber Technologies, Inc. (NYSE:UBER) was quick to clarify that the raid was not related to its operations though.

At the end of 2023, there were 129 funds in our database bullish on Uber Technologies, Inc. (NYSE:UBER). D. E.  Shaw’s D E Shaw owned the biggest stake which was worth $886 million.

2. Adobe Inc. (NASDAQ:ADBE)

Number of Q4 2023 Hedge Fund Shareholders: 105

Average Analyst Share Price Target: $622

Average Analyst Share Price Target Percentage Upside: 30%

Adobe Inc. (NASDAQ:ADBE) is a software company that develops and sells productivity products for business and personal use. The firm made a big announcement in April, when it shared that it will soon bring AI capabilities to its well known Photoshop image editing software.

A total of 105 out of the 933 hedge funds profiled by Insider Monkey owned the firm’s shares, according to the last round of 13F filings. One of Adobe Inc. (NASDAQ:ADBE)’s top shareholders is Ken Fisher’s Fisher Asset Management through its $ 2.7 billion holding.

1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Q4 2023 Hedge Fund Shareholders: 116

Average Analyst Share Price Target: $108

Average Analyst Share Price Target Percentage Upside: 42%

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese eCommerce company that is also one of the biggest technology companies in the world. The firm made a big announcement in April 2024 when it announced its Logistics Marketplace for US businesses.

With a $337 million position, David Tepper’s Appaloosa Management was the top shareholder of Alibaba Group Holding Limited (NYSEBABA) among the funds in our database. Overall, 116 investors were bullish on the company at the end of 2023.

Disclosure: None. You can also take a look at the 10 Best Multibagger Stocks to Buy Now and 20 Countries That Produce the Most Gold in the World.

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