Ladenburg Thalmann starts SoundHound at Buy

  • Investing.com
  • Stock Market News
Ladenburg Thalmann starts SoundHound at Buy
Credit: © Reuters.

Ladenburg Thalmann initiated coverage on voice recognition company, SoundHound AI Inc. (NASDAQ: SOUN ) with a Buy rating, and set a 12-month price target on the company’s shares at $4.00.

Over the past two decades, SoundHound has honed its technology, combining it with internal AI and LLMs to create tailored solutions for specific industries.

Currently, the company derives a significant portion of its revenue from the automotive sector, representing 25% of global auto sales through 20 brands. The penetration rate within this customer base stands at a mere 1-2%, leaving ample room for growth, especially with voice-enabled units projected to make up 70% of shipments by 2026.

SoundHound is also making waves in the restaurant industry, providing an automated voice platform that caters to small businesses in the services space. The company has also recently partnered with major quick-serve restaurant chains like White Castle, Jersey Mike’s, and Krispy Kreme.

The recent acquisition of Synq3 expands SoundHound's customer base, adding further momentum to its growth trajectory.

Analysts at Ladenburg Thalmann are predicting a promising future for SoundHound, with the potential to emerge as a Rule of 40 SaaS company.

Shares of SOUN are down 4.52% in afternoon trading on Tuesday.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles