BUZZ-SoundHound AI shares down; DA Davidson lowers PT

SoundHound AI, Inc Class A +6.62%

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;))

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