Posted 3/27/2024, 5:45:46 PM
SoundHound AI Stock Volatile After Nvidia Boost and Short Seller Hit, But Strong Growth Seen Ahead
- SoundHound AI (SOUN) stock has been volatile lately - spiking on Nvidia investment news, then pulling back after short-seller report
- Ladenburg Thalmann analyst recently met with management and believes SOUN has strong underlying tech and growth prospects
- SOUN focusing voice AI platform on autos (90% of revenue) and quick-service restaurants (20%+ of revenue in 2022)
- 50% revenue CAGR over next 2 years expected, profitability by 2025
- Ladenburg Thalmann rates SOUN a Buy with $7 price target (23% upside)