SoundHound initiated with a Buy at DA Davidson

DA Davidson initiated coverage of SoundHound with a Buy rating and $5 price target. The analyst says SoundHound’s Voice AI platform will set the standard for performance moving forward in the voice artificial intelligence market. With an improving financial model and growing sales team, the company is positioned well to capture “substantial market share and sustain healthy levels of growth over the long run,” the analyst tells investors in a research note.