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5 big analyst AI moves: These 10 companies talked about AI the most on EPS calls

Here are the biggest analyst moves in the area of artificial intelligence (AI) for this week.

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These companies discussed AI the most on their earnings calls

DealHub conducted an analysis of the last two earnings calls from over 200 leading companies, revealing the top 10 companies most actively discussing AI in the context of sales.

The list of companies includes Broadcom (NASDAQ: NASDAQ:AVGO), AMD (NYSE: NASDAQ:AMD), NVIDIA (NASDAQ: NASDAQ:NVDA), Thomson Reuters (NYSE: NYSE:TRI), Intuit (NASDAQ: NASDAQ:INTU), Salesforce (NYSE: NYSE:CRM), Alphabet (NASDAQ: NASDAQ:GOOGL), S&P Global (NASDAQ: SPGI), NetEase (NASDAQ: NASDAQ:NTES), and Adobe (NASDAQ: NASDAQ:ADBE).

"The data uncovers intriguing insights into the companies that are exploring AI in the realm of sales," Gideon Thomas, Chief Marketing Officer of DealHub stated following the findings.

"As the domain of artificial intelligence evolves, we recognize that the need to feed the AI with error-free price quote information becomes exponentially more critical."

Broadcom targets raised on AI, VMware deal

Wall Street analysts are raising targets on Broadcom stock after the chipmaker said it finalized the acquisition of VMware. According to BofA Securities, AVGO’s "strongest, most attractive opportunity" remains in genAI and custom silicon, and they anticipate AI driving $8 billion in sales in FY24E.

On the AI deal closing, BofA Securities analysts said:

"Our first take estimate is around 2.3% and 7.3% pf-EPS accretion in FY24/25E, with upside to 10%+ accretion and $60+ in pf-EPS power for AVGO in CY25E if it's able to realize planned synergies and/or delever faster than assumed.”

DigitalBridge is one of the top stocks to own at TD Cowen

Analysts at TD Cowen identified Digitalbridge Group Inc (NYSE:DBRG) as one of their top ideas for the year 2024. The analysts highlighted DigitalBridge Group as a specialist investment manager with a high-quality portfolio of operating companies. They emphasized the company's exclusive focus on the Digital Infrastructure sector, encompassing Data Centers, Towers, Small Cells, and Fiber.

"Given the meaningful re-rating in data center demand driven by AI, the technical competency of its portfolio companies, coupled with a robust co-investment program, we believe DBRG is well positioned to benefit from capital inflows into the data center sector," said TD Cowen, which has an Outperform rating and $20 per share price target on the stock.

UiPath surges after earnings

UiPath Inc (NYSE:PATH) shares rose on Friday after analysts raised their targets for the robotic process automation software company following its third-quarter results, which exceeded expectations.

BofA Securities analysts raised the price target by $4 to $26 per share.

"We expect to see a healthy reacceleration in key growth metrics such as ARR and NRR (net revenue retention), in Q1 when we reach easier comparisons in the small business segment," analysts said.

AI demand boosts Elastic’s financial performance

Elastic (NYSE:ESTC) N.V. shares experienced a significant surge on Friday following the release of second-quarter results that surpassed expectations, leading the application software company to raise its full-year forecast.

Analysts highlighted the robust performance of Elastic's cloud growth as a standout feature in the report, contributing to the positive market response and increased confidence in the company's trajectory.

Oppenheimer analysts highlighted the AI strength.

"We believe Elastic can sustain its momentum as it helps customers consolidate observability and security spend and as adoption for GenAI increases, driving upgrades to higher price tiers and supporting consumption growth, and longer-term, a rebound in NRR. Overall, we remain positive and believe Elastic is well-positioned to address the GenAI opportunity," analysts wrote in a note.

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