In this modern era, investing in the best machine learning stocks will be quite a profitable decision as per the future market demand.
In the present scenario, the United States economy has been going through various conflicts, such as new emerging global power, student loans, high gas prices, ongoing conflict, etc.
All these issues may affect the US economy and may damage the stock market situation by creating a slowdown situation.
The same concern has been predicted by Gregory Daco, chief economist at EY-Parthenon.
In this situation, finding a potential stock for investors to invest which will make them millionaires in the coming time, will be highly complicated.
Machine learning stocks will be the final destination for investors who want to be profitable during the bad times of the economy.
As per our study, machine learning stock will definitely open the door of hope and growth till the economy takes an upward trend again.
Let’s start!
Best Machine Learning Stocks to Buy
Over the one-week study, our team has found the most suitable machine learning stock to buy at the current time, which has the growing potential to boom in the coming time.
Alteryx Inc (NYSE: AYX)
In the list of best machine learning stocks to buy, Alteryx comes in the first place.
This is a California-based SaaS company which have a specialization in developing automation products which is highly used in data science and analytics.
Alteryx was founded by Dean Stoecker, Olivia Duane Adams, and Ned Harding in 1997 with the name of SRC, LLC, and the letter became Alteryx, Inc. in 2011.
Alteryx Inc. is listed on NYSE with a ticker symbol AYX, and its current price is $47.43 on January 15, 2024.
As per the report published by Yahoo Finance, the price of AYX stock has the potential to reach up to $64.00 within the period of one year.
With a revenue of $188 million in the second quarter of 2023, Alteryx shows a healthy financial growth of 3.8%.
During this wonderful revenue growth, Alteryx has also generated an 85.9% net profit. Apart from this, the company has $1.73 billion in total assets in the current valuation, which is increasing at a rate of 18.5%.
Keeping growth as its first preference, Alteryx developed a new relationship with the well-known company Alphabet to improve the analytics feature for Google Cloud-based business.
With this partnership, the efficiency and productivity of business customers will improve.
Additionally, Alteryx has also partnered with global business consulting firm Protiviti to develop machine learning-based analytics software for their business customers.
A few times ago, Alteryx also developed a Smart Finance Automation Software using Amazon AWS, which is very helpful for the business for mentoring market conditions.
AiDIN, a machine learning and generative AI engine of Alteryx, is widely used by businesses to automate analytic data and audit them accordingly.
As per our analysis, AYX stock would be the perfect choice of investment in machine learning stock for receiving a good amount of ROI.
Oracle Corporation (NYSE: ORCL)
Oracle Corporation is the oldest America-based multinational company working in the SaaS and computer technology domain.
The most used language computer language, Java for database, is developed by Oracle Corporation.
Oracle Corporation is listed on NYSE with a ticker symbol ORCL, and its current price is $106.60 on January 15, 2024
By maintaining strong financial growth of more than 20%, Oracle stock fluctuated more than $60 in the range of yearly minimum to maximum in 2023.
However, the revenue of this corporation has grown by almost 16.86%, which is 0.14% less as compared to the previous year.
As per the yearly report of Orecale Corporation, $3.32 billion dollar net profit was earned by this corporation in the previous year.
In our analysis, at the current time, Oracle Corporation is a profitable and growing company whose stock can be considered a long-term investment.
Orecal sustained as the software market player for the last 47 years and has strong customer trust.
To ensure its top position in cloud-related services, Orecale has partnerships with other companies, such as Telefonos de Mexico.
As per the prediction performed by experts available on Yahoo Finance, the stock price of Orecal stock may reach a maximum of $150.52 within one year.
Overall, ORCL will be the best choice for the investor who wants to invest in machine learning stock.
Read also: Oracle’s stock price prediction from 2024 to 2060.
Netflix (NASDAQ: NFLX)
In the list of best machine learning stocks to buy in 2024, Netflix stock comes into the third position.
Netflix is a multinational subscription-based streaming service provider with a wide range of movies, web series, documentaries, etc.
Netflix stock is listed on the NASDAQ stock exchange with a tricker symbole of NFLX, and its current price is $492.16 on January 15, 2024.
As per much market research, the video streaming market is in a growing position and is expected to cross $850 billion by the end of 2027.
With the hard competition in streaming services, Netflex emerges as a strong player by following good growth strategies, current market demand, advanced technology, etc.
In the last quarter’s results, Netflix reported $8.2 billion in total revenue with a net profit of 10.5%.
As per Moffett Nathanson’s research, the total subscription count will reach 360 million users worldwide by 2025.
To achieve this target, the Netflix team is working hard and trying to expand its operation in Asian countries, where most of the revenue is collected.
After analyzing this growth, most Wall Street experts predicted that Netflix stock will easily reach the first target of $375.12 and the second target of $537.59 within the coming year.
No doubt Netflex is a wise investment because advanced level strategy and expansion policy keep regional sentiment first.
Recently, Netflix succeeded in gaining approximately 5 million new subscribers by banning password sharing, reducing plan prices, and ad-supported streaming.
As per our analysis, Netflix stock is the best machine learning stock to buy from a long-term investment perspective.
Final word: Best Machine Learning Stocks
In this blog post on “best machine learning stocks in 2024,” we have provided the best stock.
During our research, these three stocks have the potential to grow an unexpected growth and have the potential to make their investors millionaires.
On the date of publishing this article, we don’t have any (direct or indirect) positions in these stocks. We are just sharing our research material with the people who are interested in investing in these stocks.
If you have any doubts, please concern with an authorized financial expert to get better advice.
Thanking You!
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