CashNews.co
We came across a bullish thesis on SoundHound AI, Inc. (SOUN) on Disruptive analytics’ Substack by Magnus Ofstad. In this article, we will summarize the bulls’ thesis on SOUN. SoundHound AI, Inc. (SOUN)’s share was trading at $7.88 as of Nov 27th.
Zapp2Photo/Shutterstock.com
SoundHound AI (SOUN) is a leader in voice AI and speech recognition technology, offering advanced solutions that enable machines to process and respond to human speech intuitively. Its Deep Meaning Understanding technology powers seamless interactions by understanding complex queries and user intent in real time. For example, in restaurants, SOUN’s system processes spoken customer orders directly for the kitchen, eliminating the need for waitstaff. With applications in customer service, automotive, and hospitality industries, SOUN enhances user experiences and drives engagement for high-profile clients like Toast, Stellantis, and Qualcomm. Partnerships with Nvidia and Oracle further bolster its technology and market reach. Although SoundHound AI carries the characteristics of a speculative growth stock with inherent volatility, its long-term growth potential makes it an appealing investment. As the company expands, SOUN is establishing itself as a key player in the voice AI industry, with its innovative technology driving broader adoption across various sectors.
SoundHound AI, Inc. (SOUN) is not on our list of the 31 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held SOUN at the end of the third quarter which was 15 in the previous quarter. While we acknowledge the risk and potential of SOUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOUN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None. This article was originally published at Insider Monkey.