H.C. Wainwright Boosts SoundHound AI Stock Target to $26

SoundHound AI, Inc. (NASDAQ: SOUN) has garnered attention this week following an upgrade from H.C. Wainwright, which raised its price target for the stock to $26.00 from $18.00. The investment firm has maintained a “Buy” rating, indicating strong confidence in the company’s future performance. As of now, SoundHound shares have increased by 7.9% in 2023, although this is notably below the 13.0% gain of the Russell 2000 index.

Analysts at H.C. Wainwright anticipate that SoundHound will achieve “material outperformance” in the upcoming quarters, particularly with third-quarter results expected to be released in November. These results may act as a catalyst for the stock, potentially influencing its market trajectory.

The firm highlighted that current revenue forecasts for 2026 do not factor in the anticipated contributions from SoundHound’s recent acquisition of Interactions Corporation. This acquisition is projected to have a significant impact on the company’s financial performance in 2026, further enhancing its revenue streams.

SoundHound AI specializes in voice artificial intelligence solutions for businesses, a rapidly growing sector within the technology landscape. While risks associated with investing in SOUN are acknowledged, the firm believes that certain AI stocks, including SoundHound, could yield higher returns over a shorter time frame.

Investors looking for AI stocks may find varying potential across the market. A report has suggested alternatives that exhibit even greater growth prospects, with some stocks indicating potential upside of up to 10,000%.

As the AI sector continues to evolve, the focus remains on companies like SoundHound that are at the forefront of innovation. The upcoming earnings report could provide further insights into the company’s trajectory and market strategy moving forward.