SoundHound AI slips even as Cantor Fitzgerald upgrades following recent sell-off [Seeking Alpha]
SoundHound AI, Inc. (SOUN)
Company Research
Source: Seeking Alpha
"In our view, the recent weakness in shares has resulted in a valuation that is more justifiable, albeit still elevated relative to the broader software market trading at ~7x 2024E EV/Sales," analyst Brett Knoblauch wrote in a note to clients. "When we downgraded shares on [March 21], we thought downside risk far outweighed upside risks. Now, we believe both downside risk and upside risk are more even which, in our view, warrants a change to our rating." Knoblauch raised his rating on SoundHound to Neutral from Underweight and maintained his $4.90 price target. Amid the upgrade, Knoblauch laid out multiple levers that could drive the stock higher, including a change in Nvidia's ( NVDA ) holdings, as well as a "meaningful" acceleration in its business fundamentals, along with an increase in transparency. On the other hand, "waning" interest from retail investors and continued pressure on the earnings multiple could drive the stock lower, Knoblauch warned. Analysts are largely
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SOUN
News
- 3 AI Stocks That Have More Upside Than Nvidia, According to Wall Street [Yahoo! Finance]Yahoo! Finance
- Why SoundHound AI, Inc. (SOUN) Outpaced the Stock Market Today [Yahoo! Finance]Yahoo! Finance
- Cramer's Lightning Round: General Motors is a buy [CNBC]CNBC
- Here Are My 2 Top Artificial Intelligence (AI) Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
- Should You Buy SoundHound Stock Before May 9? [Yahoo! Finance]Yahoo! Finance
SOUN
Earnings
- 2/29/24 - Miss
SOUN
Sec Filings
- 4/30/24 - Form ARS
- 4/30/24 - Form DEFR14A
- 4/29/24 - Form DEF
- SOUN's page on the SEC website