Top 10 AI Stocks on Investors’ Radar

8. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 79

Accenture plc (NYSE:ACN) offers strategy and consulting services. On March 21, Piper Sandler lowered the firm’s price target on the stock to $364 from $396 and kept an “Overweight” rating on the shares. The rating update follows Accenture’s second-quarter earnings report, which demonstrated a modest outperformance in revenue and earnings per share (EPS) against consensus estimates. However, operating income slightly missed expectations. Guidance for fiscal year 2025 revealed revenue/EPS targets narrowing to the upside while operating margin narrowed to the downside.

Analysts expressed concerns regarding Accenture’s ability to drive the market due to the pressure on its Federal Services segment and the broader macroeconomic uncertainty. This was evidenced by the company’s recent performance which was marked by flat bookings and a slowdown in hiring during the quarter. Nevertheless, Accenture’s GenAI bookings have been a positive aspect, which has continued to increase. GenAI, which is associated with artificial intelligence readiness and enhancements to the digital core, is anticipated to become a significant source of income for Accenture over time.