Perplexity AI predicts NIO stock price based on analysts’ insights

Finbold turned to Perplexity AI for a price prediction on Nio Inc (NYSE: NIO) stock price based on real-time insights. Perplexity Online is gaining popularity in the artificial intelligence space since OpenAI listed the startup among its most feared competitors.

One thing that distinguishes Perplexity from other AIs is its capacity to scan the web in real time for up-to-date insights. Leveraging this capacity, Finbold previously got a price prediction on Nvidia (NASDAQ: NVDA) stock and discovered the most popular investment assets for 2024.

The @perplexity_ai is rapidly becoming one of my favorite and most used AI models on @NanoGPTcom thanks to its real-time web scanning capacities.
It’s been proving extremely useful to my work when I need to access quick and consolidated information from multiple sources at once.… pic.twitter.com/BGbIsFvs9S
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We asked Perplexity AI to analyze NIO stock amid ongoing positive and negative developments related to Tesla (NASDAQ: TSLA). Tesla has faced some negative analysis and disappointment with the Robotaxi event but holds positive expectations, waiting for the Chinese FSD approval.

As of this writing, NIO is trading at $5.29, down 37.23% year-to-date. Finbold explored some theories on why Nio stock has been crashing recently.

NIO stock year-to-date price chart. Source: Finbold

Nio stock price bullish case by Perplexity AI

Overall, analysts seem bullish about Nio reaching a consensus of $11.95 per share, according to Perplexity AI. This would mean over 100% gains from current prices, highlighting the growth potential from the current point.

“Positive economic data from China, including a 4.6% year-over-year GDP growth in the third quarter, could continue to boost NIO and other U.S.-listed Chinese stocks. NIO’s recent partnerships, such as the one with UAE telecom group e&, could enhance its market presence and drive future growth.”
– Perplexity Online AI

Perplexity AI on Nvidia stock bullish price prediction. Source: *NanoGPT* / Finbold

NIO stock bearish scenario

On the other hand, the bearish scenario is playing out, as evidenced by NIO stock’s year-to-date performance. This poor price performance is aligned with Bank of America’s (BoA) price target of $5.30 at a “neutral” rating.

However, even the bearish scenario is slightly positive, considering BoA’s new target was an increase from a previous $5.0 per share.

Perplexity AI on Nvidia stock bearish price prediction. Source: *NanoGPT* / Finbold

As things develop, different aspects will directly impact Nio stock’s price performance in the following months and years. Tools like Perplexity Online AI help gather valuable insights but should not be considered in isolation.

Source: https://finbold.com/perplexity-ai-predicts-nio-stock-price-based-on-analysts-insights/