SoundHound AI (SOUN) posted its Q1 results, showing strong revenue growth, but Top Wall Street analysts remain divided on its outlook. Despite high demand for its voice AI solutions, revenue fell slightly short of estimates, leading to price target changes by some analysts.
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Wedbush Lowers Price Target but Maintains Buy Rating
Top-rated Wedbush analyst Daniel Ives cut its price target on SoundHound stock to $15 from $22, citing a lower valuation multiple. However, the analyst kept a Buy rating, which shows confidence in the company’s future growth.
Importantly, Ives noted that despite the top-line miss, SOUN beat profit estimates, pointing to its ability to benefit from AI demand.
Cantor Fitzgerald Stays Neutral on SOUN Stock
Four-star analyst Thomas Blakey from Cantor Fitzgerald reiterated a Hold rating on SoundHound, with a $8.50 price target. Blakey pointed to delays in an Amelia-related contract as a key reason for the lower-than-expected revenue.
Looking ahead, Blakey sees strong growth potential in SoundHound’s voice AI tech, with the company sticking to its $167 million revenue outlook for 2025. Further, SOUN’s Restaurant AI business continues to expand, now accounting for about 15% of total sales.
What Is the Price Target for SOUN Stock?
Turning to Wall Street, SOUN stock has a Moderate Buy consensus rating based on three Buys and three Holds assigned in the last three months. At $12.75, the average SOUN stock price target implies a 41.98% upside potential.
See more SOUN analyst ratings.
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