AI tools can do work that customers now pay these companies to do. The market worries that AI agents will take seats, hours or fees from them. Each company must show that AI adds to its revenue and does not replace it.
This is information, not advice (see the disclaimer).
Far below intrinsic value · Analysts: Bullish
The market prices AECOM for losses on one old Construction Management project and slower growth, and a clean project finish in early 2027 with steady design growth can close the gap.
Next checkpoint: Fiscal 2026 results: cash flow and fiscal 2027 guidance (Nov 16, 2026)
Far below intrinsic value · Analysts: Very bullish
The market fears that AI answers will take clicks from Search, and steady Cloud and Search growth through early 2027 can close the gap.
Next checkpoint: Final judgment and appeals in the US ad tech case (Q4 2026 (estimate))
Far below intrinsic value · Analysts: Mixed
Investors see Mobility Global as a new spin-off with new debt and AI risk, and steady CARFAX growth with stable standalone costs over four to six quarters can close the gap.
Next checkpoint: Q3 2026 results: first full standalone quarter (Nov 12, 2026)
Well below intrinsic value · Analysts: Mixed
The market fears that AI tools will replace Adobe's paid creative seats, and the gap closes slowly only if ARR keeps growing at about ten percent under the new CEO.
Next checkpoint: Q4 FY2026 earnings and FY2027 targets (Dec 10, 2026 (estimate))
Well below intrinsic value · Analysts: Leaning bullish
Investors fear that AI tools and tokenized securities will move work around Broadridge, so the gap closes slowly as recurring revenue and bookings keep growing.
Next checkpoint: Investor Day: new three-year objectives (Dec 8, 2026)
Well below intrinsic value · Analysts: Bullish
Investors fear that client cash and client loyalty can move away from Schwab, and steady interest margin and asset growth over the next two to three quarters can close the gap.
Next checkpoint: Charley AI assistant rollout and advisor AI tools (Q4 2026 (estimate))
Well below intrinsic value · Analysts: Leaning bullish
Firewall sales fell after Check Point changed its sales model, and a return to product growth as new sellers ramp in the first half of 2027 can close the gap.
Next checkpoint: Full-year 2026 results and 2027 outlook (Feb 2, 2027 (estimate))
Well below intrinsic value · Analysts: Leaning bullish
Investors doubt the payoff from Homes.com and fear AI search, and steady profit growth with a return of bookings growth can close the gap slowly through 2027 and 2028.
Next checkpoint: Full-year 2026 results and 2027 outlook (Jan 27, 2027 (estimate))
Well below intrinsic value · Analysts: Leaning bullish
The market fears that AI will shrink demand for Cognizant's IT services, and steady revenue growth with rising margins and bookings over the next two years can close the gap.
Next checkpoint: Q4 2026 earnings: 2027 outlook (Jan 29, 2027 (estimate))
Well below intrinsic value · Analysts: Very bullish
Investors fear that AI scoring and new US mortgage rules will cut the need for credit bureau data, so the gap closes slowly as Experian keeps organic growth inside its guided range.
Next checkpoint: H1 FY27 results: organic growth, margin and leverage (Nov 18, 2026)
Well below intrinsic value · Analysts: Bullish
Investors fear that AI tools will take client cash and advisors from LPL, and steady organic growth with a Commonwealth conversion in Q4 2026 that keeps most assets can close the gap.
Next checkpoint: Commonwealth conversion (Q4 2026)
Well below intrinsic value · Analysts: Leaning bullish
The market fears that AI agents will reduce the contact center seats NiCE sells, and cloud growth that stops slowing with fast AI revenue growth over the next three to five quarters can close the gap.
Next checkpoint: 2026 results and 2027 guidance (Feb 4, 2027 (estimate))
Well below intrinsic value · Analysts: Very bullish
Investors fear that AI chatbots will replace the research tools of RELX, so the gap closes slowly as Legal and STM keep growing faster than the group.
Next checkpoint: Full-year 2026 results and 2027 buyback plan (Jan 22, 2027 (estimate))
Well below intrinsic value · Analysts: Bullish
Investors fear that AI agents will cut the paid seats SAP prices its cloud software around, and strong cloud growth through the 2027 upgrade cycle can close the gap.
Next checkpoint: Full-year 2026 results and 2027 outlook (Jan 28, 2027)
Well below intrinsic value · Analysts: Very bullish
Memory chip costs and an aging PS5 hold Sony back, and game profit that reaches the raised forecast with a strong holiday quarter can close the gap over two to four quarters.
Next checkpoint: Grand Theft Auto VI launch (Nov 19, 2026)
Well below intrinsic value · Analysts: Bullish
The market fears that generative AI will lower the value of Thomson Reuters' legal and tax research, and steady organic growth from its own AI products over three to five quarters can close the gap.
Next checkpoint: 2026 results and the 2027 outlook (Feb 3, 2027 (estimate))
Well below intrinsic value · Analysts: Bullish
The market fears that AI music and slower streaming will hurt Warner Music, and continued subscription growth with higher margins and lower debt can close the gap.
Next checkpoint: Fiscal 2026 results and fiscal 2027 outlook (Nov 19, 2026)
Below intrinsic value · Analysts: Bullish
The market doubts the pace of growth in engineering services and the timing of large CANDU contracts, and new nuclear orders with steady margins over the next year can close the gap.
Next checkpoint: Q4 2026 earnings and 2027 outlook (Feb 5, 2027 (estimate))
Below intrinsic value · Analysts: Bullish
The market fears that AI answers keep shrinking Baidu's search advertising, and fast AI cloud growth can help, but the discount for China risk and the VIE structure will probably stay.
Next checkpoint: Q3 2026 earnings: search decline and AI cloud (Nov 16, 2026)
Below intrinsic value · Analysts: Leaning bullish
Investors fear that private credit losses and capped BCRED withdrawals will slow Blackstone's growth, and steady inflows with falling repurchase requests can close the gap.
Next checkpoint: BCRED Q4 2026 repurchase requests (Dec 2026 (estimate))
Below intrinsic value · Analysts: Bullish
Investors fear that AI assistants will take travel bookings away from Booking.com, and steady room night growth with stable marketing costs can close the gap.
Next checkpoint: Q4 2026 results and 2027 outlook (Feb 3, 2027 (estimate))
Below intrinsic value · Analysts: Leaning bullish
Investors fear private credit losses and irregular carry, and steady fee growth, inflows and fund exits toward the 2028 targets can close the gap over 2027 and 2028.
Next checkpoint: Full-year 2026 results: progress to 2028 targets (Feb 5, 2027 (estimate))
Below intrinsic value · Analysts: Mixed
The market fears that AI will lower demand for Infosys's IT services after a second guidance cut, and faster growth from its large deals with steady margins can close the gap over four to six quarters.
Next checkpoint: Q3 fiscal 2027 results: growth and the large deal ramp (Jan 23, 2027 (estimate))
Below intrinsic value · Analysts: Leaning bullish
Investors fear that free AI tools will take customers from TurboTax and Credit Karma, and the 2027 tax season is the main test of that fear.
Next checkpoint: Fiscal Q1 2027 earnings: first read before tax season (Nov 19, 2026 (estimate))
Below intrinsic value · Analysts: Bullish
The market prices Netflix for slower revenue growth, flat engagement and weaker ad sales, and steady growth near ten percent with a rising margin and large buybacks can close the gap.
Next checkpoint: Q4 2026 results and 2027 forecast (Jan 19, 2027 (estimate))
Below intrinsic value · Analysts: Leaning bullish
Investors fear that AI shrinks agency work while Omnicom combines with IPG, so steady organic growth and the planned cost synergies must hold for years to close the gap.
Next checkpoint: Q4 2026 results: full-year synergies (Jan 22, 2027 (estimate))
Below intrinsic value · Analysts: Mixed
Investors fear that PayPal keeps losing branded checkout share to other wallets and AI agents, so only years of steady checkout growth under the new CEO can close the gap.
Next checkpoint: Q4 2026 results and 2027 outlook (Jan 27, 2027 (estimate))
Below intrinsic value · Analysts: Mixed
The market fears that AI search cuts the leads that bring Rollins new customers, and stable leads with faster organic growth over three to five quarters can close the gap.
Next checkpoint: Full-year 2026 results and 2027 framework (Jan 21, 2027 (estimate))
Below intrinsic value · Analysts: Bullish
The market fears that AI will lower the value of SS&C's software and services, and steady organic growth with stable margins over three to five quarters can close the gap.
Next checkpoint: Refinancing of the 2027 notes (Q4 2026 (estimate))
Below intrinsic value · Analysts: Bullish
The market doubts that Salesforce can grow when AI agents can replace paid seats, and faster organic growth with rising AI revenue and free cash flow through fiscal 2028 can close the gap.
Next checkpoint: Q3 fiscal 2027 results: organic growth (Dec 2, 2026 (estimate))
Below intrinsic value · Analysts: Bullish
Investors fear that AI tools will replace Tyler's government software, and only steady SaaS growth and cloud moves through 2027 and 2028 can close the gap slowly.
Next checkpoint: Full-year 2026 results and 2027 guidance (Jan 28, 2027 (estimate))
Close to intrinsic value · Analysts: Leaning bullish
The market doubts that Airbnb can keep its growth and margins against city rules, new spending and AI travel agents, and double-digit night growth with steady free cash flow can close the gap in four to six quarters.
Next checkpoint: Q4 2026 results and 2027 outlook (Feb 11, 2027 (estimate))
Close to intrinsic value · Analysts: Leaning bullish
Investors fear that costs grow faster than revenue and that regulation cuts card profits, and slower cost growth with steady 2027 guidance can close the gap.
Next checkpoint: TheFork purchase closing (Q4 2026 (estimate))
Close to intrinsic value · Analysts: Bullish
Investors doubt the AI ad story of AppLovin after a delayed product and a lawsuit, and better execution and e-commerce results over the next two to four quarters can close the gap.
Next checkpoint: Lead-plaintiff deadline in the securities class action (Nov 16, 2026)
Close to intrinsic value · Analysts: Bullish
Investors fear that AI design tools reduce the seats Autodesk sells, and billings that meet guidance with stable seat counts over the next three to five quarters can close the gap.
Next checkpoint: Q3 fiscal 2027 results: billings and seats (Nov 24, 2026)
Close to intrinsic value · Analysts: Bullish
Investors fear that higher rates will cut asset prices and that private credit stress will slow the HPS growth plan, and steady flows with falling HLEND requests can close the gap.
Next checkpoint: HLEND Q4 2026 repurchase requests (Q4 2026 (estimate))
Close to intrinsic value · Analysts: Mixed
The market fears that AI will lower demand for CGI's IT services and prices it for slow growth, and faster organic growth from its backlog with steady margins can close the gap over four to six quarters.
Next checkpoint: Q4 fiscal 2026 results: growth and bookings (Nov 11, 2026)
Close to intrinsic value · Analysts: Very bullish
The market doubts that Cadence can keep its growth and margins as AI changes chip design, and steady growth with a rising margin and paid AI products through 2027 can close the gap.
Next checkpoint: Q4 2026 results and 2027 guidance (Feb 16, 2027 (estimate))
Close to intrinsic value · Analysts: Bullish
Investors fear that cheap AI tools can copy Constellation's niche software, and only a recovery in organic growth and good acquisitions under the new President over several years can close the gap.
Next checkpoint: Full-year 2026 results and first annual letter under Miller (Feb 6, 2027 (estimate))
Close to intrinsic value · Analysts: Bullish
Investors fear that AI will hurt Moody's data business and that debt issuance has peaked, and steady MA growth with healthy rating revenue in the next reports can close the gap.
Next checkpoint: Full-year 2026 results and 2027 guidance (Jan 21, 2027 (estimate))
Close to intrinsic value · Analysts: Bullish
Investors fear that AI agents will replace the paid seats ServiceNow sells, and steady subscription growth with rising AI revenue through 2027, as in the Q3 2026 report, can close the gap.
Next checkpoint: Q4 2026 results and 2027 subscription guidance (Jan 28, 2027 (estimate))
Close to intrinsic value · Analysts: Bullish
The market doubts that Shopify can keep its fast growth and raise its cash margins as AI agents change online shopping, and steady merchant sales growth with higher margins can close the gap.
Next checkpoint: Black Friday and Cyber Monday sales (Dec 2026 (estimate))
Close to intrinsic value · Analysts: Bullish
The market doubts that Snowflake can turn fast AI-driven growth into GAAP profit, and steady product revenue growth with rising margins and less stock pay through 2027 can close the gap.
Next checkpoint: Q3 fiscal 2027 results (Dec 2, 2026)
Close to intrinsic value · Analysts: Bullish
The market fears that robotaxis will bypass Uber and doubts its large purchases, and steady bookings growth with driverless partners that add trips can close the gap slowly through 2028.
Next checkpoint: Q4 2026 results: bookings and profit (Feb 4, 2027 (estimate))
Close to intrinsic value · Analysts: Bullish
Investors fear that AI weakens Verisk's data and that a court will force the AccuLynx deal, and a growth recovery with an end to the case over four to six quarters can close the gap.
Next checkpoint: Full-year 2026 results and 2027 guidance (Feb 5, 2027 (estimate))
Pricey · Analysts: Leaning bullish
Investors pay a premium for Accenture's scale and its role in large AI programs, and only steady growth with AI work that adds to revenue and higher margins through fiscal 2029 can earn it.
Next checkpoint: Q1 fiscal 2027 results: bookings and growth (Dec 17, 2026 (estimate))
Pricey · Analysts: Bullish
Investors fear that AI will cut the number of paid engineering software users, and steady ARR growth with the first paid AI features in 2027 can close the gap.
Next checkpoint: 2027 outlook: AI price model (Feb 5, 2027 (estimate))
Pricey · Analysts: Leaning bullish
Investors pay a premium for IBM's software growth and steady free cash flow, and faster software growth with higher free cash flow in 2027 can earn it.
Next checkpoint: IBM Quantum Day 2026 (Dec 10, 2026)
Pricey · Analysts: Bullish
Investors doubt that Palo Alto Networks can turn its large 2026 purchases into steady organic growth and higher margins, and ARR and cash flow on target through fiscal 2027 can close the gap.
Next checkpoint: Q1 fiscal 2027 results: ARR after the purchases (Nov 18, 2026)
Pricey · Analysts: Bullish
Spotify trades at a premium because investors pay for its scale and rising margins, and steady subscriber growth with price increases and higher operating margins through 2027 can earn it.
Next checkpoint: Q4 2026 results and first view of 2027 (Feb 9, 2027 (estimate))
Far above intrinsic value · Analysts: Bullish
Investors pay a premium for CrowdStrike's fast subscription growth, and net new ARR that keeps growing with free cash flow that rises faster than stock-based pay can earn it.
Next checkpoint: Q3 fiscal 2027 results: net new ARR (Dec 1, 2026)
Far above intrinsic value · Analysts: Leaning bullish
The market fears that AI tools cut the engineering hours that clients buy from EPAM, and growth that moves up again in 2027 with stable margins can close the gap.
Next checkpoint: 2027 outlook: does growth move up again (Feb 5, 2027 (estimate))
Far above intrinsic value · Analysts: Bullish
Investors pay a premium for Visa's high-margin network, and steady revenue growth with no large new limits from courts or Congress can earn it over several years.
Next checkpoint: Q1 fiscal 2027 results: revenue growth (Jan 28, 2027 (estimate))
Pass rate counts thesis checkpoints that came true. It is not an investment return. Past results do not predict future results.
Every result is on the checkpoints page.
Picks gives general opinions about stocks, including a "Top pick" label. They are not tailored to your needs, goals or risk tolerance. Kevin is not a registered adviser and relies on the general-advice exemption in Canadian securities law (NI 31-103 s.8.25). Do your own research, or ask a registered adviser. Kevin may hold any stock on this site. Read the Disclaimer.