SoundHound AI (ticker: SOUN) has received multiple analyst upgrades following its strong second-quarter financial results. Ladenburg Thalmann analyst Glenn G. Mattson upgraded SoundHound AI from Neutral to Buy, raising the price target from $9 to $16, citing the company’s momentum in voice AI technology, robust sales growth, and benefits from the Amelia deal despite integration challenges. This upgrade reflects a 77.78% increase in the price target. Other firms, including Wedbush and Northland, also raised their targets to $16 and $14.50 respectively, with Northland upgrading to Outperform from Market Perform. H.C. Wainwright maintained a Buy rating with an $18 target, highlighting revenue beats and growth prospects. SoundHound’s shares surged over 45% in five days, reaching $16.15 amid bullish options activity and a market capitalization of $5.44 billion. The put/call ratio in options trading remained low, indicating positive investor sentiment. The upgrades followed a 217% year-over-year revenue increase in Q2 and a raised full-year forecast, with analysts emphasizing the company’s strong close rates and expanding automotive deals. Other analyst updates in the broader market included target adjustments and rating changes for various companies, but the most notable activity centered on SoundHound AI’s upgraded outlook and share price performance.
$XOS -Wedbush raises XOS target to $7 from $6 Outperform - $XPRO -Piper Sandler raises Expro target to $11 from $10 Neutral - $XYZ -Mizuho raises Block target to $88 from $71 Outperform - $ZVIA -Telsey raises Zevia target to $6 from $5 Outperform --
$VTLE -Piper Sandler lowers Vital Energy target to $16 from $17 Neutral - $WDAY -Cantor initiates Workday coverage at Overweight $265 target - $WMT -Telsey maintains Walmart $115 target Outperform - $WSM -RBC raises Williams-Sonoma target to $212 from $182 Outperform -
$TXO -Stifel raises TXO target to $21 from $20 Buy - $UHS -Wells Fargo lowers Universal Health Services target to $210 from $225 Overweight -Baird lowers target to $203 from $243 Neutral - $VG -Wells Fargo raises Venture Global target to $14 from $12 = Weight -