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Highlights
- Sensyne Health has given a return of 205.07% to shareholders in the last one year
- Kainos Group reported revenues growth of 31% year-on-year from £178.8 million in 2020 to £234.7 million in 2021
Advanced technologies have been playing a pivotal role in transforming various business processes in several sectors. Artificial intelligence is one such technology that is no longer niche and is currently the focal point of all digital transformation developments. Companies are leveraging the power vested within this technology to improve offerings or gain a strategic and competitive edge. The widespread prevalence and growing popularity of the technology is garnering the attention of investors keen on adding some of the top tech stocks to their portfolios that can offer a high return.
Here we take a look at two artificial intelligence stocks that investors can buy from a long-term perspective.
Sensyne Health Plc (LON:SENS)
Sensyne Health is a clinical artificial intelligence firm that leverages data for medical research to improve patient outcomes and drug development. Recently, the company inked a strategic research agreement with a US-based Sentara Healthcare. The deal would offer Sentara Healthcare access to “de-identified” data of 3.6 million patients. The company also inked an agreement with Oxford University for conducting an AI-based drug discovery research project in asthma.
Sensyne Health’s combined clinical research, trial and real-world de-identified and anonymised datasets reached a record 60 million patients.
Sensyne Health recorded revenues of £9.0 million in FY 2021 ended 30 April 2021 (FY 2020: £2.1 million, driven by contracts with life science firms. The company’s cash and cash equivalents were £23.6 million compared to £31.7 million in FY 2020.
The shares of Sensyne Health have given 149.92% return to shareholders in the last one year, and its market cap stood at £243.90 million as of 20 August 2021.
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Kainos Group Plc (LON: KNOS)
FTSE 250 listed Kainos Group is an AI-powered consulting, software, and IT service provider. In June 2021, Kainos Group and Workday (NASDAQ:WDAY) announced the takeover of Cloudator Oy’s Workday division.
Kainos Group reported revenues growth of 31% year-on-year from £178.8 million in 2020 to £234.7 million in 2021 (year ended 31 March 2021). Its adjusted pre-tax profit increased by 124% year-on-year to £57.1 million (2020: £25.5 million). Net cash for the year was £80 million, and the proposed dividend payout was fixed at 28.2 pence per share, up by 706% from last year.
The shares of Kainos Group have given 55.91% return to shareholders in the last one year, and its market cap stood at £2,312.53 million as of 20 August 2021.
CONCLUSION:
The tech sector managed to endure the impact of the pandemic driven by growing demand for advanced technologies such as AI, robotic process automation, and data science. AI stocks are luring investors keen on investing in technology stocks that may have promising returns over time.
