Why SoundHound AI Stock Is Gaining This Week
SoundHound AI (NASDAQ: SOUN) stock is climbing this week. The company's share price was up 6.7% compared to the previous week's market close as of 10 a.m. ET this Friday, according to data from S&P Global Market Intelligence.
SoundHound's gains this week are being driven by positive coverage from Daniel Ives, a senior analyst at Wedbush Securities. While the stock has seen volatile trading this year, Ives believes the voice-and-audio-recognition specialist offers massive upside at current prices.
In coverage issued on Aug. 12, Ives reiterated a one-year price target of $7 per share on SoundHound stock. The coverage caused the company's share price to jump higher at the start of this week's trading, and the stock has managed to hold on to significant gains despite a pullback today.
Source Fool.com
