Wedbush’s analyst Daniel Ives has removed SoundHound AI (SOUN), ServiceNow (NOW), and Salesforce (CRM) from his AI 30 list as 2026 approaches. Notably, the AI 30 list is a selection of 30 tech companies chosen by Ives and his team at Wedbush. These changes come amid a quarterly reshuffle of the Dan IVES Wedbush AI Revolution ETF (IVES), which focuses on companies shaping the AI future.
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For context, Ives is a well-known Wall Street analyst at Wedbush Securities, specializing in technology and AI stocks. On TipRanks, he holds a solid five-star rating and is ranked #508 out of more than 10,000 analysts tracked on the website.
Why Were SOUN, NOW, and CRM Removed?
1. SoundHound – SoundHound AI specializes in voice recognition and natural language processing, offering AI-driven solutions across industries. Ives removed SOUN from his list, citing rising competitive pressure. He further stated that the company is navigating a tough market and has relied more on M&A to grow its customer base.
Earlier this year, Ives had a bullish outlook on SOUN stock. He believed SoundHound has built a scalable voice-AI platform that is beginning to secure meaningful enterprise contracts and could deliver significant margin expansion over time.
2. ServiceNow – ServiceNow develops cloud-based workflow automation tools used widely by enterprises. Ives sees challenges in turning increased AI usage into steady revenue, calling the company’s monetization path uneven.
3. Salesforce – Salesforce is a cloud-based CRM and AI platform helping businesses manage customers, sales, automation, and analytics. Ives stated that Salesforce has disappointed on AI monetization speed, which he says has been slower than expected so far.
Ives is Bullish on Tech Stocks
Despite these removals, Ives expects 2026 to be a strong year for tech, with AI driving the next major growth wave. He believes the AI infrastructure being built through 2025 will unlock huge monetization opportunities in 2026 and beyond. Ives also said fears of an “AI bubble” are exaggerated, pointing instead to a long-term spending surge as enterprises adopt AI at scale.
During the latest reshuffle, Ives added CoreWeave (CRWV), Iren (IREN), and Shopify (SHOP) to his top 30 list.
What Is the Price Target for SOUN?
According to TipRanks, SOUN stock has received a Moderate Buy consensus rating, with two Buys and four Holds assigned in the last three months. The average SoundHound stock price target is $17.20, suggesting a potential upside of nearly 50% from the current level.
