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The rapid adoption of artificial intelligence (AI) in general is increasing the demand for voice and conversational AI. SoundHound AI (SOUN) is gaining attention because its sophisticated platform can take orders at drive-through restaurants, train employees by providing interactive access to training modules, help consumers understand the features of their vehicle, and more.
Cantor Fitzgerald analyst Thomas Blakey recently upgraded the firm’s rating on SoundHound from “Overweight” to “Neutral” and raised the price target from $13 to $15. “SoundHound AI has executed very well, in our view, cross-selling and upselling voice and conversational AI services to its installed base, as well as expanding fully automated voice volumes related to its acquisition of (enterprise AI company) Amelia in late summer 2024,” he said in his note.