BUZZ-<a href="https://laohu8.com/S/SOUN">SoundHound AI</a> shares down; DA Davidson lowers PT** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments