SoundHound price target raised to $8 from $7 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on SoundHound (SOUN) to $8 from $7 and keeps a Buy rating on the shares post the Q3 report. The company’s revenue best forecasts and positive adjusted EBITDA is expected by the end of 2025, the analyst tells investors in a research note. Given the stronger than expected operating results and favorable outlook, the firm was “somewhat surprised” to see the shares decline 17% yesterday. It expects the company to continue to execute against its strategy in coming quarters, growing revenue, expanding gross margin, and pushing towards positive EBITDA, which should push shares higher.