5 Cheap AI Stocks to Buy in 2024

2. Symbotic Inc. (NASDAQ:SYM)

Average Analyst Price Target Upside: 32.28%

Average Analyst Price Target: $53.44

Number of Hedge Fund Holders: 24

Symbotic Inc. (NASDAQ:SYM) is a Massachusetts-based company that designs AI-powered robotic warehouse automation systems.

On February 7, DA Davidson analyst Matt Summerville upgraded Symbotic Inc. (NASDAQ:SYM)’s stock to Buy from Neutral and maintained the price target of $50.

On February 5, Symbotic Inc. (NASDAQ:SYM) announced its Q1 GAAP EPS of -$0.02, which beat the estimates by $0.03. The revenue of $368.45 million grew by 78.6% YoY.

In the fourth quarter, hedge fund sentiment was positive toward Symbotic Inc. (NASDAQ:SYM) in Q4 as the number of hedge funds with a stake in the stock went up to 24 at a combined stake value of $122.930 million, up from 12 funds at a total stake value of $28.603 million in the previous quarter.

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