5 Best Artificial Intelligence Stocks Under $10

3. Vivint Smart Home, Inc. (NYSE:VVNT)

Number of Hedge Fund Holders: 9

Stock Price: $8.65

Vivint Smart Home, Inc. (NYSE:VVNT) is a Provo, Utah-based smart home company that provides home security and alarm systems. The company is focused on providing AI-based solutions that automate certain tasks and solve challenges requiring advanced techniques. Vivint Smart Home, Inc. (NYSE:VVNT) has a proprietary AI platform that is incorporated across its product base.

Vivint Smart Home, Inc. (NYSE:VVNT) reported strong Q3 2022 results as revenue increased by 13.6% YoY to $439.4 million, outperforming the consensus forecast of $402.38 million. Following the better-than-expected revenue, Vivint Smart Home, Inc. (NYSE:VVNT) raised its FY22 revenue guidance to a range of $1.65 billion to $1.67 billion as opposed to prior guidance of $1.6 billion to $1.63 billion. Meanwhile, the consensus forecast stands at $1.62 billion.

In the United States, the average growth in revenue for home security systems has been strong recently and is expected to continue to be more than 10% per year. Businesses that provide home protection, like Vivint Smart Home, Inc. (NYSE:VVNT), are expected to do well over the coming ten years, making it one of the best artificial intelligence stocks to buy now.