10 High-Flying Stocks to Buy Now

2) SoundHound AI, Inc. (NASDAQ:SOUN)

% Increase on a YTD Basis: ~122%

Expected Upside Potential: 51.35%

Number of Hedge Fund Holdings: 15

SoundHound AI, Inc. (NASDAQ:SOUN) operates as a software company. It is engaged in developing voice AI, speech recognition, natural language understanding, sound recognition, and search technologies.

SoundHound AI, Inc. (NASDAQ:SOUN) announced strategic acquisitions of conversational AI leader Amelia and ordering platform Allset. Wall Street believes that the company continues to aim to enhance its customer service capabilities and establish a voice commerce ecosystem. The acquisitions are anticipated to be accretive to earnings in the latter half of 2025.

SoundHound AI, Inc. (NASDAQ:SOUN)’s technology, particularly its Polaris model, continues to gain traction throughout various industries like the automotive sector, with new contracts from prominent electric vehicle (EV) manufacturers and elevated subscription and bookings backlog. While the market experts remain confident about the company’s growth trajectory, SoundHound AI, Inc. (NASDAQ:SOUN) has plans to continue to innovate in the voice AI market. It is integrating Amelia’s technologies in a bid to enhance its offerings and determine the life cycle value of contracts for growth and margins.

SoundHound AI, Inc. (NASDAQ:SOUN)  is positioning itself to reap the benefits of advancements by companies like OpenAI. The company’s billing structure consists of hosting costs, potential revenue-sharing arrangements, and enterprise accounts for APIs.

Cantor Fitzgerald upped its price objective on the shares of SoundHound AI, Inc. (NASDAQ:SOUN) from $5.00 to $7.00 on 9th August. The company also raised its rating from “Neutral” to “Overweight.” As per Insider Monkey’s Q2 2024 database, the company was in the portfolios of 15 hedge funds.