Why SoundHound AI, Inc. (SOUN) Went Up On Tuesday

We recently published a list of These 10 Stocks Exploded by Double Digits Today. In this article, we are going to take a look at where SoundHound AI, Inc. (NASDAQ:SOUN) stands against other best-performing stocks.

SoundHound AI grew its share prices by 16.08 percent on Tuesday—a third consecutive day—to finish at $11.12 apiece as investors cheered the company’s optimistic rating from an investment firm.

On Tuesday, Piper Sandler initiated coverage on SoundHound AI, Inc. (NASDAQ:SOUN), giving it an “overweight” rating and a price target of $12.

According to the investment firm, SoundHound AI, Inc.’s (NASDAQ:SOUN) ASR and NLP architecture offer a competitive advantage in delivering dynamic and real-time conversational AI experiences.

Additionally, Piper Sandler gave an optimistic view on SoundHound AI, Inc.’s (NASDAQ:SOUN) Amelia, saying that it sees a $30-billion addressable market by 2027.

Why SoundHound AI, Inc. (SOUN) Went Up On Tuesday

A software engineer focused on a computer screen, writing code to create a conversational assistant.

Lastly, Piper Sandler is optimistic about SoundHound AI, Inc.’s (NASDAQ:SOUN) transition to a subscription-based model, saying that subscription and over-time revenues are expected to contribute 90 percent of total revenues by 2027, or up by 4 percent from two years ago.

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