AI Stock Soundhound AI, Inc. (Nasdaq: SOUN) Gains On New Target Price

2024-12-26 02:25:58

(MENAFN- Investor Ideas) Investorideas , a leader in retail investor trading ideas for AI and tech stocks issues a trading alert SoundHound AI, Inc. (Nasdaq: SOUN ), a global leader in voice artificial intelligence.

The stock is trading at $24.13, u 3.89, gaining 19.20% on volume of over 8 Million shares as of this report.

According to TipRanks , "H.C. Wainwright analyst Scott Buck raised the firm's price target on SoundHound (SOUN) to $26 from $8 and keeps a Buy rating on the shares. While the stock's valuation is "taking a back seat to animal spirits near term," it should be supported by business growth over time, the analyst tells investors in a research note. The recent share outperformance is being driven by a combination of factors including increasing demand for the company's artificial intelligence-enabled services across multiple sectors, the analyst tells investors in a research note. H.C. Wainwright believes SoundHound's valuation levels "may look stretched at today's share price," but says the company the company has built a scalable platform which should allow revenue, adjusted EBITDA and ultimately earnings to catch up to share price over time.:

The most recent news from the company was 14 days ago when it announced that its Amelia Conversational AI Platform has been named a Leader in the 2024 Frost RadarTM: Enterprise Conversational AI in Healthcare.

Get more AI and tech stock investing ideas with Investorideas free stock directory

Sign up for free trading and stock news alerts at Investorideas

About Investorideas - Big Investing Ideas

Investorideas is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.

Disclaimer/Disclosure .

MENAFN26122024000142011025ID1109032980

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.