Prediction: This Artificial Intelligence (AI) Stock Could Deliver 75% Upside From Here, According to Wall Street

Artificial intelligence (AI) stocks have been among the biggest stock market winners over the past few years. Investors have piled into them because the technology offers game-changing potential, and that may result in soaring earnings and share prices for the companies involved. This story has already started to play out, with companies developing and using AI generating growth.

So you might think investment opportunities right now are limited. Luckily, this isn't true. One company in particular has seen its price slip over the past year, even as it's reported mind-boggling revenue gains.

Prediction: This AI player could deliver 75% upside from here, according to Wall Street. Let's check out this promising AI company.

Image source: Getty Images.

A voice AI specialist

This company is one you may have come into contact with on the phone, in your car, or while ordering in a restaurant. I'm talking about SoundHound AI (NASDAQ: SOUN), a specialist in voice AI. SoundHound has revolutionized the industry with its technology for translating speech directly into meaning -- bypassing the usual step of converting it to text. This favors speed and quality, and has helped SoundHound's growth take off.

SoundHound serves a variety of industries, as mentioned above, and has announced new contracts quarter after quarter. For example, in the recent quarter, it signed on a major OEM in Japan, inked a deal with a global health club in the U.S., and more -- in fact, it closed a record number of enterprise deals in the period. The company doesn't derive more than 10% of its business from one single customer, and this is positive because if it loses a client, it's not disastrous for revenue. Today, SoundHound works with many market giants from pancake chain IHOP to French bank BNP Paribas.

Revenue growth of nearly 100%

All of this led to full-year revenue growth of almost 100% to more than $168 million. The company isn't yet profitable, but that isn't too surprising at this stage of its growth story.

Now, let's consider Wall Street's expectations. The average price target for performance over the coming 12 months calls for a 75% gain from current levels. I think this is possible as companies increasingly turn to AI agents to handle a variety of tasks, from customer service to taking restaurant orders. SoundHound, with its voice AI expertise, is at the heart of this part of the AI market, so it may see significant growth ahead, across industries.

Should you invest? This depends on your comfort with risk. Cautious investors may wait on the sidelines until the company moves closer to profitability, but aggressive investors might pick up shares of this promising AI stock now and bet on this growth prediction.

Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends SoundHound AI. The Motley Fool has a disclosure policy.