[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  DonCorleone77 [@CorleoneDon77](/creator/twitter/CorleoneDon77) on x 5323 followers Created: 2025-07-15 03:23:46 UTC $SOUN Attached is page X of a 16-page Piper Sandler analyst report on SOUN issued yesterday entitled: "Downgrading to Neutral | Tough 2H25 & Sector Environment Leave Balance Here" Piper Sandler has a 'Neutral' rating on SOUN with a $XX price target. Piper Sandler's 'Conclusion' regarding SOUN in the report includes the following: "We are downgrading shares of SoundHound from OW to Neutral but reiterating our $XX price target. While we initiated a few months ago, and our thesis points are generally still intact for this "Main Street" vs. "Institutional" name, there are a few things that have changed for us: 1) The 2H25 setup embeds decent execution across the three pillars, but inputs leave near-term concerns that deals may get pushed into 2026; 2) SoundHound is trying to achieve profitability, while investing in Amelia's success. It's hard to do both. Even if Amelia is successful, this carries higher earn-outs / dilution; 3) If this pressures 2H estimates, it would weigh on the multiple (>20x CY26E) as shares are up ~30% over the last few months. We remain constructive on the long-term opportunities, and 2H25 execution could create a squeeze on shares, but fundamentally, we see a balanced risk-reward here. -- Valuation: Our price target is based on 22x EV/CY26E Sales of $217M and assumes net-cash of $246M and 425M s/o (including earn-outs). Risks: Cash-burn/dilution, competition, business transition, M&A integration, & governance. (Page X is not available here as X does not allow me to post pages from reports on this platform) XXX engagements  **Related Topics** [stocks](/topic/stocks) [$soun](/topic/$soun) [$pipr](/topic/$pipr) [Post Link](https://x.com/CorleoneDon77/status/1944961056742232556)
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DonCorleone77 @CorleoneDon77 on x 5323 followers
Created: 2025-07-15 03:23:46 UTC
$SOUN
Attached is page X of a 16-page Piper Sandler analyst report on SOUN issued yesterday entitled:
"Downgrading to Neutral | Tough 2H25 & Sector Environment Leave Balance Here"
Piper Sandler has a 'Neutral' rating on SOUN with a $XX price target.
Piper Sandler's 'Conclusion' regarding SOUN in the report includes the following:
"We are downgrading shares of SoundHound from OW to Neutral but reiterating our $XX price target.
While we initiated a few months ago, and our thesis points are generally still intact for this "Main Street" vs. "Institutional" name, there are a few things that have changed for us:
The 2H25 setup embeds decent execution across the three pillars, but inputs leave near-term concerns that deals may get pushed into 2026;
SoundHound is trying to achieve profitability, while investing in Amelia's success. It's hard to do both. Even if Amelia is successful, this carries higher earn-outs / dilution;
If this pressures 2H estimates, it would weigh on the multiple (>20x CY26E) as shares are up ~30% over the last few months.
We remain constructive on the long-term opportunities, and 2H25 execution could create a squeeze on shares, but fundamentally, we see a balanced risk-reward here.
-- Valuation:
Our price target is based on 22x EV/CY26E Sales of $217M and assumes net-cash of $246M and 425M s/o (including earn-outs).
Risks:
Cash-burn/dilution, competition, business transition, M&A integration, & governance.
(Page X is not available here as X does not allow me to post pages from reports on this platform)
XXX engagements
