In this article, we will take a look at the 5 most promising robotics stocks according to analysts. To read our analysis of recent market trends, you can go to 13 Most Promising Robotics Stocks According to Analysts.
5. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 128
Upside Potential as of July 13: 42.22%
Hangzhou, China-based Alibaba Group Holding Limited (NYSE:BABA) is a leading ecommerce company with businesses comprising China commerce, international commerce, local consumer services, logistics services, cloud, digital media and entertainment, innovation initiatives and others. Its consumer facing businesses in China have combined annual active consumers of more than 1 billion.
On March 28, Alibaba Group Holding Limited (NYSE:BABA) announced a new organizational and governance structure for the company under which the company will be divided into six major business groups with independent CEOs and board of directors. Five of the business groups will have the flexibility to seek their own IPOs while the sixth business group, Taobao & Tmall Group, will remain fully owned by the company.
The Board of Directors of Alibaba Group Holding Limited (NYSE:BABA) has initially approved four major transactions as part of the restructuring process: a full spin-off of the Cloud Intelligence Group via a stock dividend distribution, external capital raise for Alibaba International Digital Commerce Group, IPO of Cainiao Smart Logistics, and the IPO of Freshippo (Hema). The transactions are expected to be completed in the next 6 to 18 months.
As of Q1 2023, 128 of the 943 hedge funds tracked by Insider Monkey were long Alibaba Group Holding Limited (NYSE:BABA) shares, for a total value of $5.9 billion. It was the stock most commonly held by hedge funds on our list of 13 most promising robotics stocks according to analysts.
4. Luminar Technologies, Inc. (NASDAQ:LAZR)
Number of Hedge Fund Holders: 14
Upside Potential as of July 13: 53.31%
Orlando, Florida-based Luminar Technologies, Inc. (NASDAQ:LAZR) is an automotive technology company that develops vision-based lidar and machine perception technologies to enable safety and autonomous capabilities for production vehicles.
Luminar Technologies, Inc. (NASDAQ:LAZR) has built an advanced hardware and software program for autonomous driving and partners with more than 50 players in the industry, including a majority of global automotive companies.
On April 13, Luminar Technologies, Inc. (NASDAQ:LAZR) brought its high-volume automated manufacturing facility in Monterrey, Mexico online to commercialize production of its hardware. The facility has an initial capacity of up to 250,000 sensors per year which is expendable to 500,000 per year. During the same month, the company announced a partnership with TPK Holding Co. Ltd. to build an additional factory in Asia.
3. JD.Com, Inc. (NASDAQ:JD)
Number of Hedge Fund Holders: 59
Upside Potential as of July 13: 54.04%
JD.Com, Inc. (NASDAQ:JD) is the largest online retailer in China as well as the biggest internet company in the country by revenue. Its online retail platform offers products ranging from fresh food and apparel to electronics and cosmetics. The company uses robots to automate its warehouses, and is developing robots for automated delivery.
On May 18, JD.Com, Inc. (NASDAQ:JD) released its financial and operational results for Q1 2023. It generated a revenue of $35.4 billion and a net income of $0.9 billion. It recorded a normalized EPS of $0.69 which exceeded consensus estimates by $0.18.
As of March 31, JD.Com, Inc. (NASDAQ:JD) shares were owned by 59 of the 943 hedge funds tracked by Insider Monkey, with a total value of the share owned by these hedge funds valued at $2.5 billion. Tiger Global Management LLC was the largest hedge fund shareholder with ownership of 24 million shares valued at $1.1 billion.
2. Hyster-Yale Materials Handling, Inc. (NYSE:HY)
Number of Hedge Fund Holders: 11
Upside Potential as of July 13: 56.81%
With a history that dates back to 1989, Hyster-Yale Materials Handling, Inc. (NYSE:HY) designs, engineers, manufactures, sells, and services lift trucks and aftermarket parts marketed globally primarily under the Hyster® and Yale® brand names.
On May 2, Hyster-Yale Materials Handling, Inc. (NYSE:HY) released its financial results for Q1 2023. Its revenue increased by 21% y-o-y to $1.0 billion while it generated a net income of $27 million, compared to a net loss of $25 million.
The Board of Directors of Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced a 0.8% increase in its quarterly dividend to $0.325 per share from $0.3225, on May 9. Its shares currently have a dividend yield of 2.72%.
1. Alteryx, Inc. (NYSE:AYX)
Number of Hedge Fund Holders: 42
Upside Potential as of July 13: 58.91%
Irvine, California-based Alteryx, Inc. (NYSE:AYX) is a leading software company that offers a cloud-based analytics automation platform which allows end-to-end automation of data engineering, analytics, reporting, machine learning, and data science processes. The platform is used by more than 8,000 customers globally.
As of July 13, Alteryx, Inc. (NYSE:AYX) shares have lost nearly 15% of their value. Despite that, analysts are bullish on the future prospects of the company and hold strong buy ratings as well as an average price target of $67.3 which represents a potential upside of nearly 59%, highest on our list of 13 most promising robotics stocks according to analysts.
As of Q1 2023, Alteryx, Inc. (NYSE:AYX) shares were owned by 42 of the 943 hedge funds tracked by Insider Monkey, with a total value of $638 million. Notable hedge fund investors included Soros Fund Management, Oaktree Capital Management, and Elliott Management, among others.
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