SoundHound AI Stock Still Has Upside After a Big Surge, According to 1 Wall Street Analyst. Is the Stock a Buy Around a 2-Year High?
2024 has been a thrill ride for investors in SoundHound AI (NASDAQ: SOUN). After dropping to a 23% loss by Feb. 5, the artificial intelligence (AI) and voice recognition specialist suddenly reversed course, notching 447% gains from its low and 320% for the year, as of Friday's close. After such a parabolic move, the stock price sits at a more than two-year high and shows no signs of slowing.
One Wall Street analyst believes the stock has additional room to run.
DA Davidson analyst Gil Luria raised his price target on SoundHound AI shares to $9.50 from $7.50, while maintaining a buy rating on the shares. This represents potential gains of 14% compared to the stock's closing price on Thursday -- although the stock was within 8% at Monday morning's prices.
Source Fool.com