Gold bars to be exempt from tariffs, White House clarifies
Investing.com - DA Davidson raised its price target on SoundHound AI Inc. (NASDAQ:SOUN) to $15.00 from $10.00 on Friday, while maintaining a Buy rating on the stock. The stock currently trades at $10.72, with analyst targets ranging from $8.00 to $18.00, according to InvestingPro data.
The firm cited SoundHound’s strong quarterly performance, which significantly beat revenue expectations with sequential growth driven by demand across its product portfolio from all industries. InvestingPro data shows impressive revenue growth of 101% over the last twelve months, with total revenue reaching $102.2 million.
DA Davidson noted that SoundHound continues to win large new clients, including major OEMs and restaurants, resulting in rapid growth in its pipeline.
The research firm believes SoundHound is capturing market share across what it describes as a massive and underpenetrated total addressable market (TAM) while making progress toward profitability.
SoundHound AI specializes in voice recognition and conversational intelligence technologies that are used across automotive, restaurant, and other industry applications. The company now commands a market capitalization of $4.31 billion, reflecting investor confidence in its growth potential.
In other recent news, SoundHound AI, Inc. reported impressive financial results for the second quarter, significantly exceeding analyst expectations. The company achieved revenue of $42.7 million, marking a 217% increase year-over-year and surpassing the analyst consensus of $32.88 million. Additionally, SoundHound reported an adjusted loss of -$0.03 per share, outperforming the anticipated loss of -$0.09 per share. Following this strong performance, the company has raised its full-year outlook. These developments have caught the attention of investors and analysts alike. The results highlight SoundHound’s robust growth trajectory and its ability to perform above market predictions. As the company continues to expand, stakeholders will be watching closely for future updates.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.