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TipRanks

AI is here; 3 ‘strong buy’ stocks that will stand to profit

Hi tech is the cool baby of investment segments, offering an unstoppable mix of chic advanced products and a long-term stock market. It is understandable; it is clear that our digital world has passed without a return in tech integration with our daily lives. It is clear that technical companies, whether large or small, are able to benefit from this move, offering the products and innovations that will help and expand the growth of our high-tech footprint. Artificial Intelligence, or AI, is at the forefront of the tech wave. AI systems, which allow machines to learn from experience, adapt to change, and process more information faster than ever before, are powering tech evolution. New AI systems make potential vehicles autonomous, personalize sales and marketing, and accelerate the networked systems that hold the digital universe together. From an investor’s perspective, the companies that build and deploy AI systems are now in a position for imminent benefits. AI is here, and it’s only going to expand its presence. With this in mind, we have opened up the TipRanks database to get the scoop on three “Strong Buy” stocks, according to the analyst community, which are making profitable use of AI technology, and mocking for a position to out of the gate. iCAD, Inc. (ICAD) We will begin in the medtech sector, where iCAD manufactures solutions, including advanced imaging analysis, radiation therapy, and workflow to enable early identification and treatments for cancer. ICAD offers a complete platform of hardware and software. The company’s ProFound AI Risk tool is an integrated platform that streamlines the diagnosis and treatment of breast cancer; the VeraLook platform uses advanced technology similar to this to improve image processing in the detection of colon polyps. Medical technology is in high demand, and iCAD’s AI power platforms bring common monitoring tools and improve their accuracy. It is part of a natural movement in medtech, of a greater integration of tools and therapies. The range, like much of the medical industry, is growing, with iCAD reporting $ 10.5 million in revenue for 4Q20, a sustained gain of 47%, driven by a 70% serial gain in product revenue from ProFound AI. Year over year, quarterly revenue rose 11%, while ProFound AI sales, in particular, gained 21%. Covering this stock for Oppenheimer, analyst Francois Brisebois sees ProFound AI as a powerful winner for the company. “We believe growth investors will be rewarded over the years as ICAD gets more of a share in growing TAM by providing transformative breast cancer detection results in addition to therapeutic, effective, cancer treatment solutions (quality over quantity) We believe ICAD represents an attractive vehicle for investors looking to be open to the topics of biotech innovation and the growth waves of AI data. Ultimately, while ProFound AI Risk is at an early stage of launch, we believe it represents a good example of AI ‘s ability in changing handling paradigms, “Brisebois opined. Not surprisingly, Brisebois ranks the Outperform ICAD (ie Buy) along with a $ 27 price target. This figure stands at 63% one year upside down. (To view Brisebois ‘history, click here) The unanimous Strong Buy consensus rating on ICAD shares shows that Wall Street is broadly in agreement with Oppenheimer’ s analyst; ICAD shares have 7 buy side ratings. The average price target of $ 21.57 means an upside of 30% from the $ 16.55 trading price. (See ICAD stock analysis on TipRanks) Baidu, Inc. (BIDU) Not all high AI stocks are based in the US. Moving our view to China, we take a look at Baidu, the largest survey engine of an Asian giant. In fact, Baidu is the largest online language monitoring platform in the world, used daily by over 1.3 billion people. Baidu has a large repository, and just because Western and Chinese internet systems are not interconnected does not mean that Western investors should look beyond BIDU stock. The benefits of Baidu are driven by a series of initiatives. The company, like Google, benefits from placing targeted ads on the analytics platform, which are powered by AI software. In addition, Baidu has been expanding the capabilities of its AI, moving into cloud computing and autonomous vehicles. In the past year, the company has even begun launching an autonomous vehicle system, a 14-passenger Apolong bus, in Guangzhou. In February, Baidu reported 4Q20 earnings and revenue, with slightly mixed results. Mainline revenue came in at $ 4.6 billion, just below the $ 4.7 billion expectation, but was still up 12% year-over-year; On the other hand, EPS slipped at $ 3.08 25% yoy despite surpassing the forecast by more than 10%. BIDU’s bulls include Fawne Jiang, a 5-star analyst with Benchmark, who writes: “BIDU is making significant progress in supporting new AI initiatives including smart transport and driving Sensible, which should encourage the long-term growth of the Company. We believe BIDU is well positioned to grow into a meaningful expanded TAM taking advantage of growth opportunities in clouds, smart transport, intelligent driving and other AI initiatives. ”Based on these positive comments, Jiang values ​​BIDU as a Buyer, and sets a $ 385 price target that shows confidence in potential above 65%. (To view Jiang’s history, click here) With 14 recent Buy ratings, compared to just 4 Holds, BIDU shares have earned Strong Buy from the analyst consensus. The stock is trading for $ 232.68, and its average price target of $ 343.44 means ~ 48% upside from that level. (See BIDU stock analysis on TipRanks) Five9 (FIVN) We take a look into the cloud now, where Five9 offers a scalable contact center platform using AI cloud technology. Contact centers have been a thriving growth sector in the last few decades, and cloud computing has changed the way we use software. AI, by making computers softer and analyzing data faster, more efficiently, and more accurately, has both changed; communication centers using AI ‘smart’ clouds can track and route calls, process information, and connect contacts and service representatives to each other faster for better results. In 4Q20, the most recent reported, the company showed 39% year-over-year growth in revenue, to $ 127.9 million – a company record. EPS, however, was negative, with the loss hitting 11 cents per share. This was an unfortunate turn from the 1-cent EPS profit posted in the fourth year ago. On a more optimistic note, the company ended 2020 with $ 67.3 million in operating cash flow, up 31% from the previous year. Also interesting for investors, Five9 announced on March 4 that it has been selected as the cloud computing vendor for CANCOM, the UK’s leading IT company. The partnership makes Five9 the platform used by CANCOM to expand their call center services, giving Five9 a strong foothold in the European market. Heading in for Craig-Hallum, 5-star analyst Jeff Van Rhee said, “Digital transformations have been kicked to high gear by COVID and the genie is not going back in the bottle. Moreover, FIVN has been very aggressive over the last few years moving to public clouds for the entire stack and lying in unique AI capabilities. It was noted that demand for AI played a very important role in many of the larger contracts … there is little doubt about FIVN’s mobility, performance and opportunity. ” Van Rhee puts a Buy rate on the stock, along with a $ 215 price target meaning a 40% year upside. (To view Van Rhee ‘s history, click here) Again, we look at Strong Buy stock. The analyst consensus rate here is based on 17 recent reviews, including 15 Buy and 2 Hold. Shares are trading for $ 153.81 and have an average price target of $ 202.31, making the 12-month upside above ~ 32%. . Disclaimer: The views expressed in this article are those of the emerging analysts. The content is intended for informational purposes only. It is very important to do your own analysis before making any investment.

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