BUZZ-SoundHound AI shares down; DA Davidson lowers PT

Reuters
01/09
BUZZ-<a href="https://laohu8.com/S/SOUN">SoundHound AI</a> shares down; DA Davidson lowers PT

** Shares of voice AI platform SoundHound AI SOUN.O down 1.4% at $10.91

** Brokerage DA Davidson lowers PT to $14 from $17; new PT still implies a nearly 27% upside to SOUN's last close

** Brokerage says SOUN has big potential across many industries, but its go-to-market $(GTM)$ is more complex than expected

** Adds revenue ramp will likely take longer than previously expected, though across its different business pillars

** 7 of 9 brokerages covering the stock recommend a rating of "buy" or higher, while others recommend "hold"; stock has a median PT of $16, according to LSEG-compiled data

** SOUN had fallen ~50% last year

(Reporting by Arnav Mishra in Bengaluru)

((Arnav.Mishra@thomsonreuters.com;))

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