IMPORTANT POINTS:
- The rise in Nvidia shares caused other companies associated with artificial intelligence to soar.
- These selected companies are characterized by having a market capitalization of more than $5 billion and by having a target price that suggests an increase of more than 10%.
- Names such as Meta, AMD and Snowflake appear within the list.
Just a few days ago, Nvidia revealed its quarterly results that showed solid earnings and significant revenue growth.
This translated into a significant increase in its shares, which in just one day jumped more than 10% to reach a new historical record.
For this reason, those companies linked to artificial intelligence also experienced an increase in their shares.
Despite this, there are opportunities on Wall Street and companies that are still “cheap.” Not so Nvidia, which has accumulated a monstrous gain of 114% so far this year.
These 10 companies that we will see below are characterized by having a market capitalization of more than 5,000 million dollars, a target price that suggests an increase of 10% or more, at least 55% of analysts say they buy them and they are traded in a forward price-earnings multiple below its five-year average.
The 10 AI Stocks That Are Still “Cheap”
Within the list, the one with the highest buy consensus is Meta, with almost 74% of analysts recommending purchasing it. In addition, they estimate an extra increase of 11.6% by the end of the year.
Analysts are very bullish on Snowflake, projecting a potential average upside of 30% . In parallel, the stock’s current forward price-earnings multiple of 150.08 is significantly below its five-year average of 761.17.
“More broadly, we think SNOW is demonstrating that it is gaining a larger share of wallets. With a number setup that looks very achievable and the rise of newer products, we see a good path for stocks to run throughout the year,” clarified analyst Tyler Radke.
