5 Best AI Stocks To Buy Now

In this article, we discuss 5 best AI stocks to buy now. If you want to see more stocks in this selection, go directly to 12 Best AI Stocks To Buy Now. 

5. Coupa Software Incorporated (NASDAQ:COUP)

Market Capitalization as of September 5: $4.305 billion

Number of Hedge Fund Holders: 40

Coupa Software Incorporated (NASDAQ:COUP) is a California-based company that employs AI Spend Classification, using machine learning and artificial intelligence to standardize and improve spend across ERP systems. On September 1, Citi analyst Steven Enders initiated coverage of Coupa Software Incorporated (NASDAQ:COUP) with a Buy rating and a $77 price target. Coupa Software Incorporated (NASDAQ:COUP) is now a leader in spend management, with a growing portfolio of solutions for the broader expense process, the analyst told investors. He sees Coupa Software Incorporated (NASDAQ:COUP) emerging as a primary candidate to gain market share of wallet within enterprises. It is one of the best AI stocks to buy now. 

Among the hedge funds tracked by Insider Monkey, 40 funds were bullish on Coupa Software Incorporated (NASDAQ:COUP) at the end of Q2 2022, compared to 46 funds in the previous quarter. Mick Hellman’s HMI Capital is the largest position holder in the company, with 2.90 million shares worth about $166 million.  

Here is what Aristotle Large Cap Growth Fund has to say about Coupa Software Incorporated (NASDAQ:COUP) in its Q1 2022 investor letter:

“We sold our position in Coupa Software following the company’s fourth quarter 2021 earnings results. The company reported earnings that were disappointing relative to the growth trajectory of both pre-COVID and prior quarters over the past fiscal year. We are concerned that the company is seeing slowing traction in the enterprise sector and felt that the weak topline and billings guidance along with margin compression from increased sales and marketing costs creates too many headwinds for us to be comfortable with. The weak fiscal year 2023 billings guidance when combined with management’s qualitative comments about a strong pipeline is concerning to us, and we believe management has done a disappointing job in providing more transparency around the growth drivers for the business.”