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SoundHound AI (SOUN) Stock Jolted by CFO Exit — Top Analyst Still Sees 100%+ Upside
Shares of SoundHound AI (SOUN) fell sharply after CFO Nitesh Sharan announced his April exit to join a quantum computing firm. However, D.A. Davidson’s four-star-rated analyst Gil Luria downplayed the news, saying it’s not a reason for long-term investors to sell. Despite the negative reaction, Luria believes the stock could more than double from current levels. He reiterated a Buy rating with a $14 price target, implying more than 100% upside. SOUN stock is down 1% in pre-market on Friday after a 7% fall yesterday.
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For context, SoundHound AI focuses on voice recognition and natural language processing, providing AI-powered solutions for multiple industries.
Why Is D.A. Davidson Bullish on SOUN Stock?
In a recent research note, Luria said Sharan is leaving on a strong note, calling the move a personal shift into the fast-growing quantum computing space — not a sign of internal issues. He added that Sharan has set the company up for “continued success.” Luria also highlighted SoundHound’s solid balance sheet, with more cash than debt, as a key strength. Notably, the company reported $248 million in cash and cash equivalents as of December 31, 2025, with no debt.
Additionally, Luria pointed to the company’s healthy current ratio of 4.59. Using a valuation of around 20x projected 2027 revenue, the analyst said SoundHound’s core voice AI business remains strong and may be undervalued after the market’s strong selloff.
Meanwhile, SoundHound stated that Sharan will stay on as an advisor during the transition, while co-founder and Chief Product Officer James Hom takes over as interim CFO.
Is SOUN a Good Stock to Buy?
According to TipRanks, SOUN stock has received a Strong Buy consensus rating, with four Buys and one Hold assigned in the last three months. The average SoundHound stock price target is $14.50, suggesting a potential upside of more than 100% from the current level.
Year-to-date, SOUN stock has declined by 31%.
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