The rapid growth of the digital economy has propelled the technology sector to the forefront of strong stock performance. In particular, artificial intelligence (AI) has emerged as a transformative force across industries, from chatbots to autonomous vehicles. As AI continues to shape the future, H.C. Wainwright analyst Scott Buck has identified two AI stocks that could see their value soar by over 100% in the next year, all at an affordable entry price of under $5.
BigBear.ai Holdings (BBAI)
First on the list is BigBear.ai, a company specializing in AI and machine learning. Their data-driven AI decision solutions are applied across various sectors, including government, defense, manufacturing, healthcare, and more. BigBear.ai’s expertise extends to autonomous systems, cybersecurity, supply chains, logistics, and professional services.
Despite a drop in share value since going public in December 2021, BigBear.ai recently announced impressive quarterly results. With a work backlog exceeding $206 million and a solid customer base, the company is well-positioned for future growth. Scott Buck predicts an acceleration in revenue growth in 2024, leading to increased profitability. He recommends investors accumulate BBAI shares, projecting a potential gain of around 133% within a year.
AudioEye, Inc. (AEYE)
Another promising AI stock is AudioEye, a software company focused on digital accessibility. Their platform ensures websites comply with accessibility standards, empowering users with disabilities to navigate and engage with online content. AudioEye’s AI-powered platform facilitates active monitoring, automated fixes, and detailed reports, providing top-notch legal protection for website owners.
An outstanding financial report for 2Q23, fueled by a solid work pipeline and new accessibility rules from the Department of Justice, sets the stage for AudioEye’s growth. Buck anticipates significant revenue acceleration in the coming quarters, recognizing the company’s operating leverage. With a Buy rating and a price target of $10, Buck suggests a potential upside of 115% within a year.
In summary, both BigBear.ai Holdings and AudioEye, Inc. present attractive investment opportunities in the AI space. Their robust AI solutions, strong customer base, and promising growth prospects make them stocks to watch for investors seeking significant returns.
Q: What is BigBear.ai’s main focus?
A: BigBear.ai specializes in AI and machine learning, providing data-driven AI decision solutions for various sectors.
Q: How has BigBear.ai performed since going public?
A: BigBear.ai’s stock value dropped after its public debut but recently reported promising quarterly results, including a significant work backlog.
Q: What is AudioEye’s core offering?
A: AudioEye offers a digital accessibility platform that ensures websites comply with accessibility standards, benefiting users with disabilities.
Q: How does AudioEye’s AI-powered platform provide legal protection?
A: AudioEye’s platform actively monitors, automatically fixes issues, and generates detailed reports, reducing the likelihood of facing valid accessibility-related lawsuits.
Q: What growth prospects does AudioEye have?
A: AudioEye has a solid work pipeline and is well-positioned to capitalize on new accessibility rules, leading to a projected acceleration in revenue growth.