SoundHound AI, Inc Class A (SOUN – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Scott Buck from H.C. Wainwright maintained a Buy rating on the stock and has a $26.00 price target.
Scott Buck’s rating is based on SoundHound AI, Inc.’s robust fourth-quarter performance and promising growth projections. The company exceeded revenue and adjusted EBITDA expectations, which has led to an upward revision in their 2025 revenue guidance. This increase, although modest, indicates a strong confidence in the company’s organic growth potential, particularly as they anticipate significant sales momentum across various sectors such as automotive, healthcare, and financial services.
Moreover, SoundHound AI, Inc. maintains a solid financial position with a substantial cash reserve and no debt, providing flexibility for future growth initiatives or potential acquisitions. The company’s ability to manage its balance sheet effectively, coupled with the expectation of improved gross margins and a positive adjusted EBITDA by the end of 2024, supports the optimistic outlook. Consequently, Scott Buck reiterates a Buy rating with a price target of $26, reflecting confidence in the company’s strategic execution and growth trajectory.
Buck covers the Technology sector, focusing on stocks such as Lightpath Technologies, SoundHound AI, Inc Class A, and Mitek Systems. According to TipRanks, Buck has an average return of -13.3% and a 26.92% success rate on recommended stocks.
In another report released on February 28, D.A. Davidson also maintained a Buy rating on the stock with a $13.00 price target.