SoundHound AI Stock Drops Over 7% Despite Upgrades After Announcing $150M Share Sale
• SoundHound AI (SOUN) stock dropped over 7% on April 10 after announcing a plan to sell up to $150M in new shares
• The company provides conversational AI solutions; its stock is up 113% YTD despite a 23% drop in April
• Analyst Brett Knoblauch upgraded SOUN to Hold from Sell with a $4.90 price target
• Knoblauch is the most accurate SOUN analyst over 1 year, with 100% profitable trades and 145% average returns
• Wall Street has a Moderate Buy rating on SOUN with a $7.15 average price target, seeing 58% upside potential