Street Calls of the Week
SANTA CLARA, Calif. - SoundHound AI, Inc. (NASDAQ:SOUN), a voice AI company with a market capitalization of $7.4 billion and impressive year-over-year revenue growth of 137%, announced Wednesday a partnership with technology services distributor Telarus to bring its AI solutions to Telarus’ network of technology advisors and enterprise customers. According to InvestingPro data, the company’s stock has delivered a remarkable 261% return over the past year, reflecting strong investor interest in AI technology providers.
The collaboration will introduce SoundHound’s Amelia 7 AI Agent and Autonomics platforms to Telarus’ partner ecosystem, potentially accelerating enterprise AI adoption across various industries including financial services, healthcare, retail, and utilities.
Telarus, described as the largest global technology services distributor, works with technology advisors who consult businesses on contact center technology solutions.
"The appetite for enterprise-grade AI is massive, but so is the need for trusted expertise to help companies deploy it successfully," said Richard Murray, Chief Commercial Officer at Telarus, in the press release.
The Amelia 7 platform is designed to handle complex multi-step user queries through multiple AI agents that can answer questions, execute transactions, and resolve problems via text or voice. The platform combines generative AI with deterministic models and human-in-the-loop capabilities.
SoundHound’s Autonomics platform offers AI-driven automation of IT systems through what the company calls "a single pane of glass," allowing users to understand why technical issues occur and resolve them quickly.
"Businesses are looking to cut through the hype when it comes to AI," said Steve Plunkett, Vice President of Global Partner and Channel Sales at SoundHound AI, according to the announcement.
SoundHound AI specializes in voice and conversational AI solutions across multiple industries including retail, financial services, and automotive sectors. While the company maintains a gross profit margin of 40.5%, InvestingPro analysis suggests the stock is trading above its Fair Value, with 13 additional ProTips available to help investors make informed decisions about this rapidly growing AI player.
In other recent news, SoundHound AI has been active with several significant developments. The company announced its acquisition of Interactions for approximately $60 million, aiming to enhance its conversational AI capabilities. This acquisition is expected to immediately boost SoundHound’s operating profitability, with additional payments contingent on meeting specific revenue milestones. Furthermore, SoundHound AI has partnered with Red Lobster to implement AI-powered phone ordering across all restaurant locations, which is designed to streamline operations by handling multiple calls simultaneously and integrating directly with the point-of-sale system.
In another collaboration, SoundHound AI and Apivia Courtage have deployed agentic AI technology in Apivia’s contact centers, resulting in a 20% productivity increase. On the analyst front, H.C. Wainwright raised its price target for SoundHound AI to $26, maintaining a Buy rating, and DA Davidson increased its price target to $17, also maintaining a Buy rating. These recent developments indicate a period of strategic growth and partnerships for SoundHound AI.
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