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2 Small-Cap Stocks With Far More Upside Than Any “Magnificent Seven” Stock, According to Wall Street
The “Magnificent Seven” are some of the most elite growth stocks around. Amazon was the worst performer of the group over the last five years, but it still delivered a market-beating 111% return. The best performer was Nvidia, which returned 2,830%.
However, after an incredible run in recent years, Wall Street has muted return expectations over the next year or so, which may reflect higher valuations for the group. The Magnificent Seven stock with the best near-term upside, according to analysts, is Google parent Alphabet, with 22% upside based on the average price target.
Investors looking for stocks with higher return potential should start their search in the small-cap arena. These are companies with market caps (share price times total shares outstanding) of less than $2 billion, and some are operating in exciting fields like voice recognition technology and electric aircraft that could experience strong growth in the coming years.
Here are two small-cap stocks with upside between 44% and 196%, based on the average Wall Street price target.
SoundHound AI (NASDAQ: SOUN) is a leader in artificial intelligence (AI)-powered voice technology that is seeing wide adoption with major brands in the restaurant and automotive industries. The company is posting impressive revenue growth that could send the stock higher next year. The average Wall Street price target is $7.79, according to YCharts, or about 44% above the current share price of $5.39.
SoundHound AI is a very small business, reporting just $13 million in revenue last quarter, but it’s growing like there’s no tomorrow. Revenue has consistently clocked in at more than 50% year over year recently. It could grow at high double-digit rates for several years as management pegs the addressable market for voice AI at more than $140 billion.
Some automotive brands recently upgraded to SoundHound Chat AI, which has accelerated customer engagement with SoundHound’s products. The annual rate of queries with its voice AI platform reached 5 billion in Q2, up 90% year over year. The company has more than 15 years of data accumulation that has improved the accuracy of SoundHound’s technology in understanding natural human speech, which gives SoundHound an advantage over competitors.
Stellantis, which owns several major car brands, including Jeep and Dodge, is using SoundHound Chat AI in its vehicles. SoundHound is also starting to see traction in other markets, including point-of-sale restaurant systems from Block‘s Square and Toast, in addition to millions of smart devices and TVs.
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UK based foreign exchange brand Travelex has announced that the company has undertaken a major expansion in the UAE, with the launch of 13 new stores across Abu Dhabi and Dubai airports.
At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store. The new landside store will offer both a cash management service that will enable the airport’s businesses to process cash, as well as traditional consumer cash services, including access to 62 currencies.
Travelex initially entered Zayed International Airport in late 2023 with seven stores and eight ATMs. The new stores reflect the growing passenger demand and customer requirements of the UAE’s newest airport. As a dominant force in the capital’s aviation sector, Zayed International Airport rapidly affirmed itself as a key hub for air travel, solidifying its position as a vital player in the global travel landscape.
At Dubai International (DXB), Travelex is in the process of launching six new stores across all three terminals, including new traditional stores and stores upgraded from OTMS. Two ATMS dispensing AED were also installed at Terminal 3 Arrivals earlier this year. DXB has also seen a considerable post-pandemic growth in pax numbers, reinforcing its status as a leading hub for international travel.
The 13 new stores across Abu Dhabi and Dubai means Travelex will be operating 60 locations across the country. The latest IATA figures show that Middle Eastern airlines saw a 9.6% year-on-year increase in demand for June 2024, while capacity increased 9.4% year-on-year.
Batu Dölay, Managing Director, Travelex Middle East and Türkiye said:
“We’re delighted to be expanding our presence at two of the most exciting and dynamic airports in the world. This investment reflects the growing global reach and passenger numbers of our UAE airport partners, and our commitment to providing even greater access to international travel money than ever before.”
About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.
Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.
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