Top 10 Trending AI Stocks on Latest News

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 136

Uber Technologies, Inc. (NYSE:UBER) is a technology company that offers solutions that enable mobility through ridesharing and provide delivery services for retailers and restaurants. It is one of the companies benefiting from the artificial intelligence frenzy as it invests in solutions that enhance mobility. On January 28th, analysts at Needham and Company reiterated a Buy rating on the stock with a $90 price target.

The buy rating comes on the heels of the company inking a strategic partnership with Nvidia to enhance the development of autonomous driving technology. Uber Technologies, Inc. (NYSE:UBER) will leverage the chip giant’s AI platforms and extensive data from its ridesharing segment to develop more robust AI models. Goldman Sachs has also taken notice of Uber and reaffirmed its Buy rating on the business, citing the company’s medium-term revenue growth and the implications of autonomous vehicle technology. Over the past 12 months, the company’s revenue has increased by 16.7% to $41.95 billion.

While we acknowledge the potential of Uber Technologies, Inc. (NYSE:UBER) to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than UBER but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article was originally published at Insider Monkey.