SOUN - This Artificial Intelligence (AI) Stock Could Soar 70% According to Wall Street. Time to Buy?
2024-04-25 05:15:00 ET
Artificial intelligence (AI) stocks have skyrocketed in recent months, thanks to their potential to transform so many industries. There could be a lot of winners, including companies selling AI tools or using these tools to make their businesses more efficient. Investors who buy shares of these players could score a win, too.
Even though many of these AI players have increased in the double and triple digits, some still may have plenty of room to run. We're in the early days of the AI story, so an AI company that's just ramping up its technology and signing on customers, for example, could see its stock climb as revenue starts to take off.
This may be the case for an AI stock that Wall Street sees with a favorable eye. This particular player could soar 70% over the coming 12 months, according to the average Wall Street estimate. I'm talking about SoundHound AI (NASDAQ: SOUN) , a specialist in voice AI that's already climbed nearly 100% this year. Is it time to buy, or is Wall Street too optimistic?
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This Artificial Intelligence (AI) Stock Could Soar 70%, According to Wall Street. Time to Buy?