Cantor Fitzgerald Upgrades SoundHound AI Inc. (SOUN) Buoyed By Voice and Conversational AI Services Development

SoundHound AI Inc. (NASDAQ:SOUN) is one of the best beaten-down technology stocks to buy according to hedge funds. On December 12, Cantor Fitzgerald upgraded SoundHound AI Inc. (NASDAQ:SOUN) to an Overweight from Neutral and raised the price target to $15 from $13.

Cantor Fitzgerald  Upgrades SoundHound AI Inc. (SOUN) Buoyed By Voice and Conversational AI Services Development

The upgrade is in response to what Cantor Fitzgerald touts as “very well” execution by the company in cross-selling and upselling voice and conversational AI services. The research firm has also echoed the company’s expanded automated voice volumes following the acquisition of Amelia last year. Cantor Fitzgerald sees voice AI as a meaningful beneficiary of secular AI growth trends and expects the company to capitalize on the emerging trends.

Similarly, on December 10, SoundHound AI inked a strategic partnership with OpenTable to launch an in-vehicle voice AI stream. The system will allow drivers to make restaurant reservations through voice commands.

“This collaboration marks another milestone in our mission to bring voice-enabled transactions into the vehicle,” said Michael Zagorsek, COO of SoundHound AI. “Integrating OpenTable into our voice commerce platform broadly expands the ways drivers can plan their dining experiences, making them effortless, intuitive, and hands-free.”

Cantor Fitzgerald expects the recent acquisition of Interactions to be a key organic growth driver, complemented by an expanding partner ecosystem.

SoundHound AI, Inc. (NASDAQ:SOUN) provides voice and conversational intelligence technology, enabling businesses to create AI agents and voice assistants for customer service, automation, and product interaction. It offers platforms like Amelia for enterprise AI and helps brands voice-enable their services with speed, accuracy, and brand control.

While we acknowledge the potential of SOUN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SOUN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.