SoundHound: Too Much AI Hype Heading Into Q4 Earnings (Rating Downgrade)
Update - March 14, 2024 SoundHound AI continues to surge despite reporting a disappointing Q4'23 and guiding to disappointing numbers for 2024 and 2025 as follows: 2024 - $70M 2025 - $100M The stock has surged to a $3 billion market cap for no logical reason. Original article posted Feb. 27 SoftBank and Nvidia have made small investments in SoundHound AI, bringing attention to the company and causing its stock to soar. The voice AI company is entering Q4 '23 earnings with high expectations, but needs to prove its ability to execute the business plan. SOUN stock has soared above $7, pushing the market cap to nearly $2 billion for a company with 2024 consensus sales targets of only $69 million. SoundHound AI, Inc. ( NASDAQ: SOUN ) is one of the prime go to artificial intelligence ("AI") stocks to play the volatile AI boom. The company is more than just a company with "AI" in the name, but the voice AI stock probably doesn't warrant the recent massive