What Does the Future Hold for SoundHound (SOUN)

SoundHound AI Inc. (NASDAQ:SOUN) is one of the 11 best software application stocks to buy now.

On February 27, Piper Sandler analyst James Fish reduced the firm’s price target on SoundHound AI Inc. (NASDAQ:SOUN) from $11 to $9. The analyst maintained a Neutral rating on the shares, which now yield an upside of more than 15%.

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Fish described the quarter as mixed, with revenue figures staying in line with consensus forecasts, a profitability miss, and stronger-than-anticipated guidance. However, he flagged concerns about the business’s current run-rate trajectory and its heavy reliance on M&A and go-gets to narrow the existing gap.

On February 26, SoundHound AI Inc. (NASDAQ:SOUN) announced its fourth quarter results. Revenue was recorded at $55.1 million, exhibiting a 59% year-over-year growth. Topline figures for the entire year doubled on a yearly basis, standing at $169 million.

During the quarter, the company closed more than 100 customer deals. These included engagements with an automotive OEM from Japan, a telecommunications company based in the U.S., and an athletic brand with global presence.

SoundHound AI Inc. (NASDAQ:SOUN) offers voice AI services to businesses, enabling them to communicate effectively with customers. It covers various industries worldwide, including automotive, media, and technology. Its proprietary platform, Houndify, provides a range of tools that enable businesses to build voice assistants, customer support, and other capabilities.

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