There is a surge of different types of AI stocks in the market. SoundHound is one of the famous AI stocks, it is an AI-based audio and voice platform that provides end-to-end solutions in voice-based conversations.
It has gathered a lot of attention as an AI tool in 2023. Read the article further to know more about SoundHound and its stock prices:
What is SoundHound AI?
SoundHound is an AI-based music software that specializes in audio and speech recognition technologies. It offers solutions incorporating automatic speech recognition in various languages and text-to-speech abilities.
It is the only AI-powered software that combines speech-to-text and text-to-meaning technologies to form speech-to-meaning, which is one of the most developed and accurate voice recognition systems in today’s time.
SoundHound AI’s features include real-time lyrics, voice-activated music searches, and Houndify, its virtual voice assistance. It can even identify songs, like Shazam, with the help of ACR (Automatic Content Recognition) technologies.
SoundHound AI provides solutions in the fields of automotive vehicles, the hospitality industry, smart devices, restaurants, customer care, banking and finance, mobile apps, retail, and gaming.
Who owns SoundHound AI?
Kevyan Mohajer, together with Majid Emami and James Hom are the founders of SoundHound AI. They are all graduates of Stanford University.
Kevyan Mohajer is also the CEO of SoundHound. He envisions a world where voice assistants revolutionize the way we engage with machines, increasing efficiency and productivity. He has a doctorate in electrical engineering.
Is SoundHound AI a good stock to buy?
SoundHound AI has received a consensus rating of “BUY”. So it is a good stock to buy. Based on 2 buy ratings, the no hold or sell rating company’s average rating score is 3.0.
However, the following facts can be referred to to determine whether currently, SoundHound AI is currently a good stock to buy or not:
1. The average 12-month rating of SoundHound AI stock has risen by 104.44%. Wedbush Securities categorizes it as a ‘strong’ buy, which has so far had a great analysis of AI stocks.
2. Investors believe SoundHound AI stock to be a high-risk reward stock as though it has immense potential, its performance over the next few years is unsteady.
How to buy SoundHound AI stock?
To buy SoundHound AI stock, we can use eToro which is a very user-friendly and versatile platform. You can refer to the guide and invest accordingly:
1. You can download the eToro app on your device or directly go to the website.
2. Register for an eToro account. The platform also provides a demo with virtual $100,000 cash so that people can practice investing.
3. Fund your eToro account. You can deposit funds through various methods like credit cards, debit cards, etc. The minimum deposit on eToro is from $200-$500.
4. Analyze the SoundHound AI stock. Conduct all necessary research before making a final decision to invest in it to prevent any unnecessary losses.
5. Purchase the stock. You can purchase it at the current market price or specify a fixed rate at which you would like to purchase the stock.
6. eToro provides a section ‘Watchlist’ where you can make different lists and keep a real-time watch on your investment.
What is SoundHound AI Stock Price?
The stock price of SoundHound AI, as of 12 September 2023, is $2.25, and has 110,369 shares.
To stay updated with the stock price of SoundHound AI, click here. It has received a consensus rating of ‘BUY’.
Latest News about SoundHound AI Stock
SoundHound AI, Inc. recently released its results for the second quarter of 2023.
1. Its revenue increased 42% from last year, currently standing at $8.8 million.
2. Its gross margin was at 69%, an improvement from 60% from last year.
3. Its operating loss was reduced by 43%, currently standing at $16.4 million.
4. Earnings per share was a net loss of $0.10 compared to $0.19 of last year.
5. It has significantly improved the balance sheet, with a total approximation of $130 million.
6. Its adjusted EBITDA (non-GAAP) was a $9.9 million loss which is a huge, 50% improvement from last year.
To keep updated with the latest news, click here
SoundHound AI Stock Price Prediction in 2025
According to the CoinCodex prediction, the SoundHound AI, Inc. stock price prediction for 2025 is currently at $0.765432. This is assuming that the stock prices of SoundHound AI continue to grow as they have in the last 10 years.
This would be a -65.98% increase in the stock prices.
Conclusion
Hence, SoundHound AI seems to have great value in the upcoming market. It has also received a good average rating of ’3.0’. SoundHound AI is proving to be a global leader in voice artificial intelligence.
At the current time, SoundHound AI is a good stock to buy. So users can analyze the stocks and invest in them.