#6 - SoundHound (NASDAQ:SOUN)
No list of stocks under $20 to buy would seem complete without one artificial intelligence (AI) stock. And it's a good time for investors who are looking for the "next Nvidia." It's unlikely that any stock can live up to that hype, but SoundHound AI (NASDAQ: SOUN) is one to watch.
SoundHound uses generative AI (GenAI) in products that can understand human speech and respond with a computer-generated voice. The company is seeing strong growth in the restaurant and automotive sectors.
The company is reporting strong revenue growth but is not yet profitable. For that to change, SoundHound must show that it can expand into other sectors before competitors enter the arena.
That being said, institutional investors seem to believe SOUN stock is a safe bet. Ownership remains relatively low at just 19%. However, much of that buying took place last year, also when short interest climbed sharply.
About SoundHound AI
SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.
Read More - Current Price
- $21.75
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.50 (56.3% Downside)
