SOUN - Nasdaq Bull Market: 2 Growth Stocks to Buy Before They Soar 111% and 167% According to Certain Wall Street Analysts
2024-04-23 05:00:00 ET
The Nasdaq Composite (NASDAQINDEX: ^IXIC) entered a bull market 16 months ago, and the technology-heavy index has already advanced 50%. Those gains have left many stocks trading at pricey valuations, but certain Wall Street analysts still see SoundHound AI (NASDAQ: SOUN) and Roku (NASDAQ: ROKU) as compelling buys.
Specifically, Gil Luria at DA Davidson recently raised his price target on SoundHound AI to $9.50 per share, 167% above its price of $3.55 at the close Friday. Similarly, Alicia Reese at Wedbush Securities put a price target of $120 per share on Roku, 111% higher than its closing price of $56.90 on Friday.
SoundHound specializes in conversational intelligence, also called voice artificial intelligence (AI). Its products can be incorporated into all manner of smart devices across numerous industries, including automotive, restaurants, customer service, and hospitality. The company also provides developer tools that allow brands to build customized voice AI interfaces for any product or application.
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Nasdaq Bull Market: 2 Growth Stocks to Buy Before They Soar 111% and 167%, According to Certain Wall Street Analysts