The artificial intelligence (AI) industry is experiencing a true revolution that is set to reshape various sectors in unimaginable ways. According to a report by Grand View Research, the global AI market is projected to surge from roughly $137 billion in 2022 to a staggering $1.81 trillion by 2030. Here are five leading AI companies that offer promising investment opportunities in this lucrative market.
1. Ameresco Inc. (NYSE: AMRC)
Shares of Ameresco Inc. have demonstrated an impressive recent performance, gaining 11.05% in the previous trading session and maintaining upward momentum over the last five days. The stock reached its week-high of $28.94 on Friday, November 17th, adding 2.39% to its value on that day.
2. Analyst Projections for Ameresco Inc.
Wall Street analysts have assigned Ameresco Inc. a consensus price target of $42.33, signifying a potential rise of 31.63% from its current value. Analysts have set a low price target of $29.00 for the stock, with a high target of $59.00.
3. Ameresco Inc. Compared to Industry Peers
Statistics indicate that Ameresco Inc. has experienced a comparatively lower performance in relation to other players in the industry. Over the past six months, the company’s shares have dipped by -33.02%, reflecting an annual growth rate of -28.88%. In contrast, the industry as a whole has experienced a decline of only -3.60%.
4. Revenue Projections and Earnings Growth
Analysts predict that Ameresco Inc. will generate approximately $402.8 million in revenue for the current quarter. For the subsequent quarter ending in March 2024, revenue estimates stand at $344.2 million. Analysts anticipate a sales growth of 21.40% for the current quarter and 27.00% for the following quarter. Looking ahead, Ameresco Inc. experienced an annual earnings growth rate of 16.76% over the past five years. However, in 2023, earnings growth is projected to be around -31.08%, while estimates for the next five years suggest a growth rate of 27.20%.
5. Mutual Funds Ownership
Two prominent Mutual Funds that own Ameresco Inc.’s shares are Vanguard Total Stock Market Index Fund and GMO Resources Fund. As of June 29, 2023, Vanguard Total Stock Market Index Fund managed 1.01 million shares worth $48.96 million, accounting for 2.94% of the total outstanding shares. GMO Resources Fund, on the other hand, held 0.93 million shares on May 30, 2023, with a stake valued at approximately $39.87 million, making it the holder of 2.71% of the company’s stock.
Based on these factors, investors intrigued by the potential of the global AI revolution can consider investing in Ameresco Inc. The company’s recent performance, analyst projections, and institutional holdings demonstrate the potential for significant growth in the near future.
