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BUZZ-SoundHound AI shares down; DA Davidson lowers PT
SoundHound AI, Inc Class A SOUN | 11.75 | +6.62% |
** Shares of voice AI platform SoundHound AI SOUN.O down 1.4% at $10.91
** Brokerage DA Davidson lowers PT to $14 from $17; new PT still implies a nearly 27% upside to SOUN's last close
** Brokerage says SOUN has big potential across many industries, but its go-to-market (GTM) is more complex than expected
** Adds revenue ramp will likely take longer than previously expected, though across its different business pillars
** 7 of 9 brokerages covering the stock recommend a rating of "buy" or higher, while others recommend "hold"; stock has a median PT of $16, according to LSEG-compiled data
** SOUN had fallen ~50% last year
(Reporting by Arnav Mishra in Bengaluru)
((Arnav.Mishra@thomsonreuters.com;))


