SoundHound AI shares down; DA Davidson lowers PT

Shares of voice AI platform SoundHound AI SOUN.O down 1.4% at $10.91

Brokerage DA Davidson lowers PT to $14 from $17; new PT still implies a nearly 27% upside to SOUN's last close

Brokerage says SOUN has big potential across many industries, but its go-to-market (GTM) is more complex than expected

Adds revenue ramp will likely take longer than previously expected, though across its different business pillars

7 of 9 brokerages covering the stock recommend a rating of "buy" or higher, while others recommend "hold"; stock has a median PT of $16, according to LSEG-compiled data

SOUN had fallen ~50% last year