SOUN - SoundHound AI Stock Surges: Time to Buy or Sell?
2024-05-10 13:35:55 ET
Shares of SoundHound AI (NASDAQ: SOUN) soared on Friday morning, tickled by a Street-stumping earnings report.
Sales rose 73% year over year, and the bottom line inched a penny closer to breakeven. Management boosted the midpoint of its full-year revenue target from $70 million to $71 million. Both results left Wall Street's consensus estimates far behind, and SoundHound AI's stock surged as much as 25.7% higher on the news.
The provider of voice control and audio analysis tools based on advanced artificial intelligence (AI) has been on a roller coaster in recent months. After Friday's pop, the stock trades 250% above last fall's 52-week lows but still 50% below the highs of March.
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SoundHound AI Stock Surges: Time to Buy or Sell?