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Piper Sandler Cuts SoundHound AI (SOUN) PT to $11 Citing Execution Risks, Slow Adoption for Standalone AI Vendors
Yahoo Finance· 2026-01-08 14:12
Core Viewpoint - SoundHound AI Inc. is gaining attention from hedge funds, with mixed analyst ratings reflecting both potential and execution risks in the AI sector [1][3]. Group 1: Analyst Ratings - Piper Sandler lowered its price target for SoundHound to $11 from $15 while maintaining a Neutral rating, citing execution risks and slow adoption for standalone AI vendors [1][3]. - Cantor Fitzgerald upgraded SoundHound to Overweight from Neutral with a price target increase to $15 from $13, encouraging investors to take advantage of the recent price dip [2]. Group 2: Strategic Developments - SoundHound announced a partnership with OpenTable to launch a conversational in-vehicle voice AI reservations agent, enhancing its in-car voice commerce platform [3]. - The integration allows users to book tables at over 60,000 restaurants worldwide using natural language commands, improving user experience by enabling hands-free bookings [3]. Group 3: Company Overview - SoundHound AI develops independent voice AI solutions for various industries, including automotive, TV, IoT, and customer service, serving markets in the US, Korea, France, Japan, Germany, and internationally [4].