5 Best High-Risk High-Reward Stocks To Buy Now

3. C3.ai, Inc. (NYSE:AI)

Number of Hedge Fund Holders: 18

C3.ai, Inc. (NYSE:AI) operates as an enterprise artificial intelligence (AI) software company that provides an application platform alongside an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications. On December 13, C3.ai, Inc. (NYSE:AI) announced that it had received the first three orders in its five-year, $500 million Production Other Transaction Agreement sponsored by the U.S. Missile Defense Agency (MDA), which will be applicable across the Department of Defense . All three orders will leverage the C3 AI Platform to accelerate deployment of critical enterprise artificial intelligence capabilities across the MDA.

On December 8, JMP Securities analyst Patrick Walravens lowered the price target on C3.ai, Inc. (NYSE:AI) to $19 from $25 but kept an Outperform rating on the shares. According to Walravens, the company’s Q2 results were generally better than expected with subscription revenue growth accelerating to 26% from 24% last quarter. The analyst states that he likes the stock’s long-term opportunity due to the company’s scalable enterprise AI solution that solves problems with large economic impact in a variety of industries and offers a massive addressable market opportunity.

At the end of the third quarter of 2022, 18 hedge funds in the database of Insider Monkey held stakes worth $71.9 million in C3.ai, Inc. (NYSE:AI), compared to 17 in the previous quarter worth $1 billion.