Benzinga - by Surbhi Jain, .
SoundHound AI Inc (NASDAQ:SOUN) stock made a Golden Cross on the price charts. While the stock is up about 250% this year, its stride has particularly been boosted since early February. Among the elements driving the stock are NVDIA Corp (NASDAQ:NVDA) and SoftBank investing in the company.
The recently announced earnings, despite reporting a miss on EPS and revenue, boosted investor confidence in the stock’s future trajectory, courtesy of robust guidance.
SoundHound saw full-year 2024 revenue in the range of $63 million to $77 million. The company also introduced 2025 guidance, in which it said it expected "growth to accelerate with revenue exceeding $100 million, achieving positive adjusted EBITDA."
Related: SoundHound AI Q4 Earnings: Revenue Miss, EPS Miss, Backlog Growth, ‘Breakthrough Year’ And More
The Golden Cross Sparks Interest In A Bullish Opportunity Driven by recent momentum, SoundHound AI stock’s moving averages made a Golden Cross — as the 50-day SMA (simple moving average) crossed above the 200-day SMA. This occurrence caught the attention of investors and technical analysts alike, sparking interest in SoundHound AI stock as a potential bullish opportunity.
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The recent Golden Cross in SoundHound AI’s stock chart piqued the interest of investors and analysts alike. This bullish signal is viewed as a potential precursor to an upward trend, aligning with the company’s solid fundamentals and innovative strides in the AI sector.
SoundHound Making Innovative Strides In AI SoundHound AI excels in cutting-edge voice and audio recognition, extending its capabilities beyond music identification to encompass natural language processing, solidifying its position in the voice-enabled AI landscape.
The Houndify platform empowers developers to integrate advanced voice functionalities, while its automotive integration enhances in-car infotainment systems, allowing users to navigate, communicate, and control music hands-free for an improved driving experience.
The catalysts driving SoundHound’s recent Golden Cross include its advancements in voice and audio technology, extending beyond music identification and placing the company at the forefront of the AI revolution.
Additionally, strategic collaborations and partnerships with tech giants, automotive manufacturers and other industries highlight SoundHound’s adeptness in integrating its technology into diverse applications, indicating substantial potential for future growth.
Read Next: SoundHound AI Stock Up 176% YTD, Boosted By Nvidia, SoftBank, And 3 Other Key Catalysts
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