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SoundHound AI (NASDAQ: SOUN) stock is on a roller-coaster ride so far in 2024, rising tremendously in the first three months to hit a 52-week high in mid-March, but has since lost 45% of its value
SOUN PS Ratio data by YCharts. At around 90 times sales, SoundHound's stock is far from cheap.It's far more common to see software companies trade for about 20 times sales, which it did for the ...
Image source: Getty Images. Strong financial momentum. In the third quarter (for the period ended Sept. 30), SoundHound AI posted revenue of $25.1 million, an 89% year-over-year increase.
SoundHound AI has two of the most important factors that give a stock multi-bagger potential: small size (with a market cap of $2.9 billion) and a huge addressable market.
The company was co-founded in 2005 by Keyvan Mohajer, an Iranian-Canadian computer scientist and entrepreneur who specializes in voice AI. [11]In 2009, the company's music discovery app Midomi was rebranded as SoundHound, but is still available as a web version on midomi.com. [12] [13] The app grew from 2 million users in January 2010 to 100 million users in September 2012.
As a result, the stock could continue to record serious gains, and investors may want to keep this stock on their radar heading into 2025. Prediction: SoundHound AI Stock Will Soar in 2025 Skip to ...
The successful prediction of a stock's future price could yield significant profit. The efficient market hypothesis suggests that stock prices reflect all currently available information and any price changes that are not based on newly revealed information thus are inherently unpredictable. Others disagree and those with this viewpoint possess ...
But while sales growth will be a key factor in SoundHound AI's stock performance, there's another key metric investors need to keep an eye on. Watch this metric.