SoundHound AI (SOUN) Expands Platform With LivePerson Deal, Analyst Maintains Buy Rating

SoundHound AI Inc. (NASDAQ:SOUN) is one of the 12 AI Stocks in Focus on Wall Street: Tesla, Meta, and More.

SoundHound AI Inc. (NASDAQ:SOUN) is part of our coverage of 12 AI Stocks in Focus on Wall Street. The company has recently announced that it has entered into a definitive agreement under which it will acquire LivePerson, an enterprise leader in predictable conversational AI.

Following the news, on April 22, DA Davidson analyst Gil Luria reiterated a Buy rating on the stock with a $14.00 price target. Firm analysts believe the LivePerson acquisition will add scale and value to the stock, supporting its long-term growth and helping it expand its AI conversational platform.

SoundHound announced this morning a definitive agreement to acquire LivePerson, a provider of an AI powered conversational platform to help businesses communicate with customers, for a total enterprise value of ~$250M upon closing.

SoundHound AI (SOUN) Expands Platform With LivePerson Deal, Analyst Maintains Buy Rating

However, they also acknowledged that the acquisition is SoundHound’s largest till date, and that it also presents some integration risks. However, they still view it favorably as it adds significant scale to the company’s business and is also accretive on a valuation basis.

We reiterate our BUY rating.

SoundHound AI, Inc. (NASDAQ:SOUN) is a voice artificial intelligence company offering voice AI solutions to businesses.

While we acknowledge the risk and potential of SOUN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SOUN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.