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SoundHound AI Slips Even As Cantor Fitzgerald Upgrades Following Recent Sell-off

SoundHound AI shares slipped 2.4% in early trading on Thursday even as Cantor Fitzgerald upgraded the AI voice and speech recognition company."In our view, the recent weakness in shares has resulted i

SoundHound AI Slips Even As Cantor Fitzgerald Upgrades Following Recent Sell-off

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Now, we believe both downside risk and upside risk are more even which, in our view, warrants a change to our rating.&#34;</p><p style=\"text-align: left;\">Knoblauch raised his rating on SoundHound to Neutral from Underweight and maintained his $4.90 price target.</p><p style=\"text-align: left;\">Amid the upgrade, Knoblauch laid out multiple levers that could drive the stock higher, including a change in Nvidia&#39;s (NVDA) holdings, as well as a &#34;meaningful&#34; acceleration in its business fundamentals, along with an increase in transparency.</p><p style=\"text-align: left;\">On the other hand, &#34;waning&#34; interest from retail investors and continued pressure on the earnings multiple could drive the stock lower, Knoblauch warned.</p><p style=\"text-align: left;\">Analysts are largely bullish on SoundHound AI (SOUN). It has a HOLD rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. Conversely, Seeking Alpha&#39;s quant system, which consistently beats the market, rates SOUN a HOLD.</p><p></p><p></p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SoundHound AI Slips Even As Cantor Fitzgerald Upgrades Following Recent Sell-off</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoundHound AI Slips Even As Cantor Fitzgerald Upgrades Following Recent Sell-off\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-11 22:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4088956-soundhound-ai-slips-cantor-fitzgerald-upgrades-following-recent-sell-off><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SoundHound AI shares slipped 2.4% in early trading on Thursday even as Cantor Fitzgerald upgraded the AI voice and speech recognition company.\"In our view, the recent weakness in shares has resulted ...</p>\n\n<a href=\"https://seekingalpha.com/news/4088956-soundhound-ai-slips-cantor-fitzgerald-upgrades-following-recent-sell-off\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOUN":"SoundHound AI Inc"},"source_url":"https://seekingalpha.com/news/4088956-soundhound-ai-slips-cantor-fitzgerald-upgrades-following-recent-sell-off","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121836165","content_text":"SoundHound AI shares slipped 2.4% in early trading on Thursday even as Cantor Fitzgerald upgraded the AI voice and speech recognition company.\"In our view, the recent weakness in shares has resulted in a valuation that is more justifiable, albeit still elevated relative to the broader software market trading at ~7x 2024E EV/Sales,\" analyst Brett Knoblauch wrote in a note to clients. \"When we downgraded shares on [March 21], we thought downside risk far outweighed upside risks. Now, we believe both downside risk and upside risk are more even which, in our view, warrants a change to our rating.\"Knoblauch raised his rating on SoundHound to Neutral from Underweight and maintained his $4.90 price target.Amid the upgrade, Knoblauch laid out multiple levers that could drive the stock higher, including a change in Nvidia's (NVDA) holdings, as well as a \"meaningful\" acceleration in its business fundamentals, along with an increase in transparency.On the other hand, \"waning\" interest from retail investors and continued pressure on the earnings multiple could drive the stock lower, Knoblauch warned.Analysts are largely bullish on SoundHound AI (SOUN). It has a HOLD rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. 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