SoundHound Stock Just Got a New Street-High Price Target. Should You Buy SOUN Here?
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A corporate sign for SoundHound by Tada Images via Shutterstock
H.C. Wainwright analyst Scott Buck recently raised the price target on conversational artificial intelligence (AI) firm SoundHound AI (SOUN) from $18 to a Street-high of $26, while reaffirming a “Buy” rating. The price target upgrade follows the firm’s assessment of SoundHound’s potential, although current sentiment is driven by market momentum, despite the high valuation.
Still, the company’s actual business growth is expected to support SOUN stock over the long term. There are also industry tailwinds at play, such as rising demand for AI-powered services.
Should you consider investing in SoundHound stock now? Let’s take a closer look.
