Wedbush analyst Daniel Ives raised the firm’s price target on SoundHound to $9 from $5 and keeps an Outperform rating on the shares. SoundHound’s Q4 results featured a slight top-line miss and a miss on adjusted EBITDA as the company continues to see demand for its voice artificial intelligence products, signing various large brand deals fueling growth while taking market share in the conversational AI market, the analyst tells investors in a research note. This was a solid print and guide as the company continues to build toward profitable growth, Wedbush says.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on SOUN:
- SOUN Earnings: Q4 Miss Puts the Brakes on Stock’s Blistering Rally
- Options Volatility and Implied Earnings Moves Today, February 29, 2024
- ‘Beware of the Valuation,’ Says Top Analyst Michael Latimore About SoundHound AI Stock
- Notable open interest changes for February 28th
- SoundHound downgraded to Market Perform from Outperform at Northland
