Top 10 AI Stocks on Wall Street’s Radar

Page 9 of 9

1.  MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 49

MongoDB, Inc. (NASDAQ:MDB) provides a general-purpose database platform worldwide that integrates operational, unstructured, and AI-related data to streamline building applications. On Thursday, January 16, Cantor Fitzgerald initiated MongoDB, Inc. (NASDAQ:MDB) with an “Overweight” rating and a $344 price target. MongoDB, leading in NoSQL databases, has witnessed its rating upgrade due to its fast-growing cloud service, MongoDB Atlas. MongoDB Atlas is a fully managed cloud database service that makes up 71% of revenue. According to the firm, AI-driven demand could push growth into the mid-20% range for FY25, beating Wall Street’s 17% estimate. The company’s AI-driven demand is due to its ability to deal with unstructured data, large datasets, and support for real-time data analytics. Moreover, the MongoDB Atlas simplifies cloud deployment, making it a preferred choice for businesses making AI-powered applications.

While we acknowledge the potential of MDB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MDB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and Complete List of All AI Companies Under $2 Billion Market Cap.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 9 of 9