Shares of voice AI recognition company SoundHound (NASDAQ:SOUN) fell 4.5% in the morning session after the company received a downgrade from a Wall Street analyst. Piper Sandler adjusted its rating on the voice AI and conversational intelligence company from "Overweight" to "Neutral," citing concerns about the company's outlook for the second half of 2025.
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The Koyfin-compiled consensus analysts’ price target for SoundHound stock is $11.81, implying roughly 7% downside potential from Tuesday’s closing price.
U.S. major indices ended mixed on Tuesday, as the Dow Jones Industrial Average slipped nearly 0.4% to 44,240.76 and the S&P 500 edged down 0.1% to 6,225.52.
SoundHound AI stock soared but plunged 35% YTD due to Nvidia exiting its stake, Jim Cramer's sell recommendation, and mixed Q1 results. Potential rivals, including Meta Platforms and OpenAI, pose competition. Analysts have a consensus price forecast of $10.50 for SoundHound AI.
