SoundHound AI (NASDAQ: SOUN) has received mixed ratings from analysts, with the majority Bullish.
The future of SoundHound AI (SOUN) has ignited a flurry of debate among industry analysts, as recent ratings paint a picture of cautious optimism.
In the last month, evaluations from 6 analysts have been split, with four leaning towards a bullish outlook while 2 express a somewhat bullish sentiment. The average 12-month price target for SoundHound AI currently sits at $6.38, with forecasts ranging from a high estimate of $9.00 to a low estimate of $4.00, marking a significant uptick from the previous average target of $4.65.
Recently, several key analyst actions have underscored growing optimism around SoundHound AI. Noteworthy upgrades in ratings and price targets from prominent firms such as HC Wainwright & Co., Cantor Fitzgerald, Wedbush, and DA Davidson signal a favorable sentiment toward the company’s future performance.
Overall, analysts’ consensus leans towards a positive outlook for SoundHound AI, with a majority of Buy ratings and an average target price of $6.75.
As of March 4, 2024, industry analysts project a promising future for SoundHound AI, reflecting the company’s potential for growth and success in the coming months.
SoundHound AI (NASDAQ: SOUN) Stock Movement
SOUN stock tumbled 6.79% to close at $5.62 on Monday. The traders had exchanged hands with 90,862,229 (90.86 million) shares compared to the average daily trading volume of 34.98 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
