Why SoundHound AI Stock Was Making So Much Noise This Week
SoundHound AI (NASDAQ: SOUN) sure feels like a "right time, right place," stock these days. As its name implies, the company concentrates on artificial intelligence (AI) customer-service voice solutions.
Not only is AI a hot item among investors just now, but SoundHound AI also benefited this week from a glowing analyst note. As a result, S&P Global Market Intelligence says that the company's share price was over 22% higher week to date as of Friday before market open.
On Wednesday, that analyst, Brett Knoblauch from Cantor Fitzgerald, pulled the trigger on a significant SoundHound AI price-target raise. He more than doubled his fair value estimation of the stock to $6.20 from his previous $2.80. Already bullish, Knoblauch maintained his overweight (buy) recommendation on the shares.
Source Fool.com