11:12 AM EDT, 08/08/2025 (MT Newswires) -- SoundHound AI ( SOUN ) is likely to see robust demand this year throughout all verticals as the voice artificial intelligence company remains an "under-appreciated pure-play" AI firm, Wedbush said in a Friday note.

The company continues to see rising momentum across all verticals in spite of higher competition and a challenging macro, analysts led by Daniel Ives wrote.

SoundHound's higher quarterly revenue performance was due to "strength" in automotive as it signed a new logo with a Chinese original equipment manufacturer, including new additional expansions with current clients and added 1,000 new locations in Q2, the analysts mentioned.

Additionally, SoundHound reiterated that it anticipates to be EBITDA positive by the end of this year through cost synergies, which it will realize, the analysts added.

Wedbush raised SoundHound's price target to $16 from $15 and maintained an outperform rating on the stock.

Shares of the company were up over 32% in recent Friday trading.

Price: 14.18, Change: +3.46, Percent Change: +32.25