12 Best Robinhood Stocks to Buy Under $20

9. SoundHound AI Inc. (NASDAQ:SOUN)

Number of Hedge Fund Holders: 11

SoundHound AI Inc. (NASDAQ:SOUN) specializes in conversational intelligence, offering cutting-edge voice AI solutions that enable businesses to create natural, human-like interactions with their customers. Their technology powers a wide range of applications, allowing users to engage seamlessly with devices like mobile phones, cars, TVs, and IoT products.

SoundHound AI Inc. (NASDAQ:SOUN) unveiled its first-ever in-vehicle voice commerce platform at CES 2025, allowing drivers and passengers to order food directly from their car’s infotainment system. The platform integrates with national restaurant chains and enables seamless payments and navigation to pick-up locations, all hands-free. This innovation positions the company as a leader in voice AI for automotive applications and could open new revenue streams.

SoundHound AI Inc. (NASDAQ:SOUN) reported a record-breaking third-quarter revenue of $25.1 million, marking an 89% year-over-year increase. The company also showed improved customer concentration, with only 12% of revenue coming from its largest customer, a significant drop from 72% last year. Despite the growth, the company posted a GAAP net loss of $21.8 million and a non-GAAP net loss of $15.0 million. Operating expenses grew significantly, with GAAP operating loss expanding by 132% to $33.8 million. SoundHound AI Inc. (NASDAQ:SOUN) ended the quarter with $136 million in cash, reflecting solid liquidity.

On January 13, 2025, Scott Buck of HC Wainwright & Co. reiterated a Strong Buy rating for SoundHound AI Inc. (NASDAQ:SOUN), setting a price target of $26, which implies a potential upside of 137.12% from its current price.