SoundHound AI, Inc. (NASDAQ:SOUN) is one of the Hot AI Stocks on Wall Street’s Radar. On August 8, DA Davidson analyst Gil Luria raised the price target on the stock to $15.00 (from $10.00) while maintaining a Buy rating.
The rating follows in what CEO Keyvan Mohajer called its “strongest ever quarter.” The voice-based artificial-intelligence company beat revenue expectations by a wide margin, with Mohajer noting that businesses are increasingly turning to AI for voice-based customer-service offerings.
It continues to win large new logos which has led to rapid growth in its pipeline.
“SoundHound reported a great quarter significantly beating revenue expectations with sequential growth driven by demand across its product set from all industries. SoundHound continues to win large new logos including major OEMs and restaurants resulting in rapid growth in its pipeline. SoundHound is capturing market share across a massive and underpenetrated TAM while making progress towards profitability. We reiterate our BUY rating and raise our price target to $15.”
SoundHound AI, Inc. (NASDAQ:SOUN) is a voice artificial intelligence company offering voice AI solutions to businesses.
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