Quick Summary:
- SoundHound AI (SOUN, Financial) faces a significant share price decline of 63.1% year-to-date due to financial misstatements.
- Despite growth in partnerships, its market valuation remains a concern.
- Analysts provide varied price targets, indicating potential upside, but GuruFocus suggests a cautionary outlook.
SoundHound AI (NDAQ: SOUN) has experienced a sharp decline of 63.1% in its share value this year, primarily driven by allegations of financial misstatements related to its acquisitions. Despite efforts to diversify its clientele and forge strategic partnerships across different sectors, investor sentiment remains lukewarm as the stock battles a market valuation that exceeds industry norms.
Wall Street Analysts' Insights
According to the latest data from seven experts, the average target price for SoundHound AI Inc (SOUN, Financial) stands at $14.57. Their projections range widely, with the highest target set at $26.00 and the lowest at $8.00. This average target suggests a potential upside of 65.02% from the current trading price of $8.83. For a more in-depth analysis, please visit the SoundHound AI Inc (SOUN) Forecast page.
SoundHound AI Inc is currently rated as "Outperform" based on a consensus recommendation from seven brokerage firms, resulting in an average brokerage recommendation of 2.3. The rating uses a scale of 1 to 5, with 1 meaning Strong Buy and 5 indicating Sell.
However, according to GuruFocus estimates, the projected GF Value for SoundHound AI Inc (SOUN, Financial) over the next year is $7.46. This suggests a potential downside of 15.52% from the current market price of $8.83. The GF Value, calculated from historical trading multiples, previous business growth, and future performance estimates, offers a perspective on the fair value of the stock. For more details, refer to the SoundHound AI Inc (SOUN) Summary page.
