DA Davidson raised the firm’s price target on SoundHound (SOUN) to $13 from $9.50 and keeps a Buy rating on the shares. The company closed out 2024 with strong results as revenue growth continues to land above expectations, and demand for SoundHound’s solutions remains elevated as it now expands its business with leading players across industries including financials, healthcare, energy and others, the analyst tells investors in a research note. SoundHound’s acquisition of Amelia has also materially expanded its total addressable market and helped diversify the business, the firm adds.
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