DA Davidson raised the firm’s price target on SoundHound to $7.50 from $5 and keeps a Buy rating on the shares. The company reported a good quarter with revenue roughly in-line with expectations, and demand for SoundHound’s AI solution remains elevated, the analyst tells investors in a research note. SoundHound has also won a new deal with a top U.S.-based EV maker and signed a contract with a large OEM that increases its unit volumes through 2037, the firm added.
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