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Five 'Strong Buy' Artificial Intelligence Stocks - TipRanks Blog

#artificialintelligence

Everyone is talking about artificial intelligence (AI) right now- with many predicting that AI will lead the next wave of economic growth and productivity for the next couple of decades at least. However not all big-name AI stocks have the Street's seal of approval. Nvidia (NVDA) has a moderate buy analyst consensus rating while both Advanced Micro Devices (AMD) and Tesla (TSLA) have hold ratings. All three stocks have an average analyst price target below their current share price as analysts warn that prices have entered overblown territory (see Goldman Sachs' Toshiya Hari on AMD for example). To find less risky AI investing opportunities we looked for stocks with a strong buy consensus rating from the Street's best performing analysts.


Veeva stock jumps on fiscal Q1 results above expectations, higher forecast

ZDNet

Veeva Systems, the cloud applications specialist for life sciences, this afternoon reported fiscal Q1 revenue and profit that topped analysts' expectations, and an outlook for this quarter, and the full year, that was higher as well. The report sent Veeva shares up 4% in late trading. CEO Peter Gassner remarked, "The team's focus on customer success and product excellence continues to drive Veeva's outstanding results." "Our innovations in data, software, and services are helping the industry move to a new digital-first model." Veeva's CFO, Brent Bowman, called the quarter "an outstanding start to the year," adding, "We are building a durable position across both R&D and commercial, which reflects our role as a strategic technology provider to the industry."


3 Artificial Intelligence Stocks Leading the New Wave

#artificialintelligence

Everyone is talking about artificial intelligence (AI) right now- with many predicting that AI will lead the next wave of economic growth and productivity for the next couple of decades at least. AI refers to the use of data to simulate human intelligence processes including learning, reasoning and self-correction by machines. AI is making its way into almost every industry. With IDC predicting that worldwide spending on AI will be nearly $98 Billion in 2023, the implications of this technology are massive. And this has not been ignored by Wall Street.


Apple specialists Jamf stock rises as Q4 results top expectations, forecast higher as well

ZDNet

Apple specialty support services company Jamf this afternoon reported Q4 revenue and profit that topped analysts' expectations, and an outlook for the quarter and the year that was higher as well. The report sent Jamf shares 3% higher in late trading. Jamf provides services to enterprises who want to activate and maintain Apple Macs and iOS devices, including special boot software to remotely initiate the set-up of the devices with a push of a button. CEO Dean Hager remarked that Jamf "finished 2020 with high growth across every product, geography, and the top 10 industries we serve, demonstrating the strength and diversity of our platform Added Hager, "As we look to 2021, we'll continue to expand the breadth and depth of our Apple Enterprise Management platform to enhance our value to customers and accelerate further penetration of Apple in the enterprise." Revenue in the three months ended in December rose 34%, year over year, to $76.4 million, yielding a net profit of 2 cents a share, excluding some costs.


Snowflake stock falls despite fiscal Q4 results, outlook topping expectations

ZDNet

Big data analytics pioneer Snowflake this afternoon reported Q4 revenue that topped Wall Street's expectations, but also offered a product revenue outlook that was just slightly above the average estimate. The report sent Snowflake shares lower by about 4% in late trading. It was Snowflake's second quarterly report as a public company following its IPO in mid-September. The sell-off is in stark contrast to when Snowflake reported its fiscal Q3 in December, prompting a sharp after-hours gain that afternoon. Snowflake's CEO, Frank Slootman, called the quarter a "strong performance," noting the "triple-digit product revenue growth."