SOUN - SoundHound's AI Is Fueling Revenue Surge From Strong Demand In Automotive And Restaurant Sectors: Analyst | Benzinga
Wedbush analyst Daniel Ives reiterated the Outperform rating on SoundHound AI, Inc. (NASDAQ:SOUN) with a price forecast of $9.
Following the first quarter results, the analyst notes that the company continues to see demand for its voice AI products picked up in the automotive and restaurant industries, signing various large brand deals that fuel growth while grabbing market share in the conversational AI market.
The company’s subscription and bookings backlog increased to $682.0 million in the first quarter. Per Ives, this is due to strong product royalties and strength in the automotive segment ...