Top 10 AI Stocks on Wall Street’s Radar

7. Pegasystems Inc. (NASDAQ:PEGA)

Number of Hedge Fund Holders: 28

Pegasystems Inc. (NASDAQ:PEGA) develops, markets, licenses, hosts, and supports enterprise software. On January 14, KeyBanc analyst Devin Au assumed coverage of Pegasystems with an “Overweight” rating and a $118 price target. The rating indicates a positive outlook on the company’s potential for growth. Pegasystems has been successful in growing its customer base and has adopted effective strategies to acquire new clients. The introduction of its GenAI blueprint has also been successful, which is a collaborative workspace that uses generative AI to design applications faster. According to the firm’s analysis, the GenAI blueprint and Pegasystems’ refined go-to-market strategy are expected to lead to an acceleration in Annual Contract Value (ACV) growth for Pegasystems.  The growth is in turn supported by the company’s strong fundamentals.