SoundHound AI (NASDAQ: SOUN) is set to report its 2024 fourth quarter and full-year financial results on February 27, 2025.
Experts are keenly awaiting the results, as SoundHound has shown significant growth in recent quarters, as its Q3 2024 report suggested it grew 89% year-over-year to $25.1 million, surpassing expectations.
The company’s voice AI solutions have been gaining traction across various industries, including retail, healthcare, automotive, and smart devices.
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SoundHound (NASDAQ: SOUN) stock price
The last five days were a bit turbulent for SoundHound stock. Namely, on Monday, February 10, SOUN closed at $15.33, before seeing a 5-day low two days later.
However, on Thursday, February 13, the SOUN stock price closed at $15.25, marking a 9.16% increase from the previous day, when the stock closed at of $13.63.
The 9.16% increase could be attributed to positive macroeconomic news. The Bureau of Labor Statistics (BLS) published a Producer Price Index (PPI) report showing a year-over-year increase of just 0.2%, which was lower than the anticipated 0.4%.
This better-than-expected data provided some comforting news for investors regarding inflation, leading to a rebound in growth stocks, including SoundHound AI.
The stock has seen a decline of 27.4% year-to-date (YTD) and is down 38% from its peak in late December 2024.
Wall Street’s take on SOUN stock
When it comes to SOUN stock prediction for the next year, it has a “Moderate Buy” rating on TipRanks, with both Andrew Fein at HC Wainwright and Daniel Ives at Wedbush Securities suggesting a positive outlook.
These experts highlight the company’s innovative voice AI technology, strategic acquisitions, and partnerships with major players like Nvidia (NASDAQ: NVDA) as key drivers for their optimistic ratings.
Overall, the consensus price target for SoundHound AI over the next 12 months is $24, proposing a potential upside of approximately 57.38% from the current price, with a projected high forecast of $26 and low of $22.
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