Posted 10/13/2023, 9:25:00 PM
SoundHound AI Stock Crashes 87% Since IPO Despite Strong Growth and Bullish Analyst Outlook
- SoundHound AI stock has crashed 87% since going public in April 2022.
- Analysts remain upbeat about SoundHound's prospects, with a median 12-month price target of $5.
- SoundHound AI reported impressive 42% revenue growth and 19 percentage point jump in gross margin last quarter.
- The company is targeting large markets like automotive and estimates $160B total addressable market by 2026.
- SoundHound expects 50% revenue growth in 2023 while analysts forecast 62% growth to $74 million next year.
