SoundHound AI Inc (NASDAQ:SOUN) shares tanked in early trading on Friday, despite the company reporting upbeat second-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
Cantor Fitzgerald On SoundHound AI
Analyst Brett Knoblauch upgraded the rating from Neutral to Overweight, while raising the price target from $5 to $7.
SoundHound AI reported “solid” results for the second quarter, with revenue of $13.5 million coming in slightly higher than expected, Knoblauch said in a note.
Management raised its full-year revenue guide to at least $80 million and introduced a 2025 target of $150 million, “primarily related to today’s acquisition of Amelia, an enterprise AI software company,” he added.
This could be a “transformative acquisition” for the company, as it brings “a very high profile customer base,” significant recurring revenues, and …
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