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3 Artificial Intelligence Stocks to Watch This Earnings Season
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Artificial Intelligence (AI) is one of the hottest sectors right now. While big stocks like Nvidia and Microsoft dominate the headlines, smaller stocks are making massive moves.
Since ChatGPT came online, investors have been scrambling for the next hot AI stock. Just this week, we have seen some big moves from many AI names. Let’s review three of these fast-moving AI stocks and learn more about what they actually do.
C3.AI (AI)
With perhaps the best ticker for the sector, C3.AI is one of the more notable AI stocks out there. The stock is a Zacks Rank #3 (Hold) that is an enterprise artificial intelligence software company. C3.AI delivers a comprehensive Enterprise AI application development platform and a growing family of turnkey enterprise AI applications.
The stock was up as much as 200% this year before a sell off at the beginning of the month. After 40% drop in two days, the stock has stabilized and is up about 3% on the week.
Looking back at earnings in early March, the company beat expectations by 72%. This has helped analysts hike estimates higher for both the current quarter and year. C3.AI has a market cap of $2.5B, which is way down from the lofty valuation it saw in late 2020 when the stock was trading above $150.
SoundHound AI is a Zacks Rank #3 (Hold) that is an innovator of conversational intelligence. The company offers an independent voice AI platform, which enables businesses across industries to deliver conversational experiences.
The company claims that its Voice AI technology processes speech like a human brain. This tech helps customers deliver better speed, accuracy, and a more natural conversational experience.
AI investors found SOUN early in 2023 and took it higher by almost 200% to start the year. After a big sell off, the stock has been trading sideways around $3 a share. This is well off the 2023 lows, but 65% off its highs of $4.97
SoundHound has a market cap of $700 million and is coming off a 12% EPS beat back in March. Over the last 90 days, estimates have been trending higher across all time frames. If the company can beat expectations this June, it should be a catalyst for the stock to shoot higher.
Bullfrog AI operates as a digital biopharmaceutical company that focuses on artificial intelligence and machine learning (AI/ML) driven analysis of data sets in medicine and healthcare.
The stock has found recent interest from investors after the company announced a license agreement with Johns Hopkins University Applied Physics Laboratory for use of patented technology powering the company's bfLEAP platform. Thisplatform analyzes drug development data to potentially make life-saving therapies and treatments available to patients more quickly.
After the news, Bullfrog leapt almost 300% from its low of $2.47 to $9.50. The stock pulled back, but is still trading up about 25% in April.
This company has a small market cap of $35 million and has only been around since it debuted with an IPO in February. For that reason, we do not have earnings data or a Zacks Rank yet. Investors should keep an eye on the stock to see if it can become a viable investment going forward.
Bottom Line
Artificial intelligence is an exciting space that investors are scrambling to find the next big opportunity. Those interested in this new world should be making a watchlist of all these AI names and considering which fits best in their portfolio. Additionally, following the Zacks Rank will allow investors to make sure these new companies earnings estimates are trending in the right direction.
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3 Artificial Intelligence Stocks to Watch This Earnings Season
Artificial Intelligence (AI) is one of the hottest sectors right now. While big stocks like Nvidia and Microsoft dominate the headlines, smaller stocks are making massive moves.
Since ChatGPT came online, investors have been scrambling for the next hot AI stock. Just this week, we have seen some big moves from many AI names. Let’s review three of these fast-moving AI stocks and learn more about what they actually do.
C3.AI (AI)
With perhaps the best ticker for the sector, C3.AI is one of the more notable AI stocks out there. The stock is a Zacks Rank #3 (Hold) that is an enterprise artificial intelligence software company. C3.AI delivers a comprehensive Enterprise AI application development platform and a growing family of turnkey enterprise AI applications.
The stock was up as much as 200% this year before a sell off at the beginning of the month. After 40% drop in two days, the stock has stabilized and is up about 3% on the week.
Looking back at earnings in early March, the company beat expectations by 72%. This has helped analysts hike estimates higher for both the current quarter and year. C3.AI has a market cap of $2.5B, which is way down from the lofty valuation it saw in late 2020 when the stock was trading above $150.
SoundHound AI (SOUN - Free Report)
SoundHound AI is a Zacks Rank #3 (Hold) that is an innovator of conversational intelligence. The company offers an independent voice AI platform, which enables businesses across industries to deliver conversational experiences.
The company claims that its Voice AI technology processes speech like a human brain. This tech helps customers deliver better speed, accuracy, and a more natural conversational experience.
AI investors found SOUN early in 2023 and took it higher by almost 200% to start the year. After a big sell off, the stock has been trading sideways around $3 a share. This is well off the 2023 lows, but 65% off its highs of $4.97
SoundHound has a market cap of $700 million and is coming off a 12% EPS beat back in March. Over the last 90 days, estimates have been trending higher across all time frames. If the company can beat expectations this June, it should be a catalyst for the stock to shoot higher.
Bullfrog AI Holdings (BFRG - Free Report)
Bullfrog AI operates as a digital biopharmaceutical company that focuses on artificial intelligence and machine learning (AI/ML) driven analysis of data sets in medicine and healthcare.
The stock has found recent interest from investors after the company announced a license agreement with Johns Hopkins University Applied Physics Laboratory for use of patented technology powering the company's bfLEAP platform. Thisplatform analyzes drug development data to potentially make life-saving therapies and treatments available to patients more quickly.
After the news, Bullfrog leapt almost 300% from its low of $2.47 to $9.50. The stock pulled back, but is still trading up about 25% in April.
This company has a small market cap of $35 million and has only been around since it debuted with an IPO in February. For that reason, we do not have earnings data or a Zacks Rank yet. Investors should keep an eye on the stock to see if it can become a viable investment going forward.
Bottom Line
Artificial intelligence is an exciting space that investors are scrambling to find the next big opportunity. Those interested in this new world should be making a watchlist of all these AI names and considering which fits best in their portfolio. Additionally, following the Zacks Rank will allow investors to make sure these new companies earnings estimates are trending in the right direction.