SoundHound AI is touted as a potential investment opportunity for those who missed out on Nvidia’s surge. The stock has already soared close to 70% year to date, but Wall Street analysts believe it could still rise by 58%. SoundHound’s conversational voice AI platform is used in customer service applications, and the company has several high-profile customers, including Honda, Mercedes-Benz, and Netflix. Three analysts who cover the company have rated the stock a buy or a strong buy. Despite the positive outlook, there are risks associated with SoundHound. For example, the company has yet to turn a profit and could potentially face competition from rapidly evolving technology. Furthermore, the stock currently trades at nearly 18 times trailing-12-month sales, which makes it vulnerable to a misstep. Nevertheless, Wall Street’s expectations for SoundHound seem reasonable, and the company is a key player in the AI market.
AI Stock Could Surge 58%, According to Wall Street, Making Up for Missed Nvidia Opportunity
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