SoundHound AI Stock Has Room to Run After Its Crash, According to 1 Wall Street Analyst. Is the Stock a Buy After a 50% Decline? [Yahoo! Finance]
SoundHound AI, Inc. (SOUN)
Company Research
Source: Yahoo! Finance
intelligence (AI) and voice recognition specialist reversed course, notching 323% gains by March 15. It then turned south, losing half its value as of market close on Wednesday. After such a whiplash-inducing ride, the stock is still up 112% since the year began. One Wall Street analyst views the decline as a positive thing. Lower risk, but still risky Cantor Fitzgerald analyst Brett Knoblauch upgraded SoundHound AI stock to neutral (hold) from underweight (sell) while maintaining its price target of $4.90. This represents an upside of roughly 10% compared to the stock's closing price on Wednesday. The analyst had previously issued a rare double downgrade on SoundHound AI, primarily the result of its frothy valuation of 40 times sales. However, the analyst also cited a host of other concerns , suggesting that SoundHound AI is a risky stock. The valuation has now contracted from 45 times sales to 22 times sales, with Knoblauch suggesting the downside risk and upside promise are
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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