Top 10 Unlikely AI Stocks with Tremendous Upside Potential

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1. ServiceNow, Inc. (NYSE:NOW)

Number of Hedge Fund Holders: 78

ServiceNow, Inc. (NYSE:NOW) is a software application company that provides end-to-end intelligent workflow automation platform solutions for digital businesses. It operates the Now platform for end-to-end digital transformation, artificial intelligence and machine learning.  While growth has slowed among software makers, the company is on the cusp of reaching the $10 billion mark in annual revenue.

The growth is being accelerated by the integration of artificial intelligence into products, therefore eliciting strong demand. Likewise, the company is increasingly monetizing its AI-driven products, which have emerged as a control tower for AI business transformation. On January 4th, analysts at RBC Capital reiterated an overweight rating on ServiceNow, Inc. (NYSE:NOW) and increased the price target to $1210 from $1045.

The price hike came amid expectations that ServiceNow will be one of the biggest beneficiaries of improved spending trends in the software sector as artificial intelligence drives new innovations.

While we acknowledge the potential of NOW as an investment, our conviction lies in the belief that 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 NOW but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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

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