Ladenburg Thalmann Upgrades SoundHound AI Inc. (SOUN) to Buy, 'Top Line Beat Allays Growth Concerns'

Ladenburg Thalmann analyst Glenn Mattson upgraded SoundHound AI Inc. (NASDAQ: SOUN) from Neutral to Buy with a price target of $16.00 (from $9.00).

The analyst comments "We upgrade shares to Buy and raise our PT to $16 (from $9). We continue to view Voice as one of the key early applications for AI systems. The company is a leader in this space and is adding significant utility for enterprises looking to adopt AI functionality. The Amelia acquisition still needs further integration but is providing solid benefits in terms of scale, new lead generation, and an entry into the enterprise. While valuation remains elevated, the growth and scale justify that premium, in our view. We now use a 22x multiple on our new 2027 estimate to achieve our $16 PT. This is justified by the rule of 40 peer set found in the body of the report."

For an analyst ratings summary and ratings history on SoundHound AI Inc. click here. For more ratings news on SoundHound AI Inc. click here.

Shares of SoundHound AI Inc. closed at $13.55 yesterday.

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