Sports and Competition Sports and Competition

Wedbush Just Doubled Its Price Target on This Hot AI Stock. Is It Time to Buy?


Published on 2024-12-18 11:21:21 - The Globe and Mail
  Print publication without navigation

  • Calling SOUN a "long-term winner in the AI Revolution," Ives backed an "Outperform" rating on the stock, and cited Soundhound's "aggressive but accretive M&A strategy with three acquisitions over the past 18 months (Amelia, SYNQ3, Allset) to expand its reach to more opportunities for voice AI solutions" as a positive catalyst for growth.

The article from The Globe and Mail discusses Wedbush Securities' decision to double its price target for Nvidia Corporation (NVDA), a leading company in artificial intelligence (AI) technology. Analyst Matt Bryson from Wedbush raised the price target from $490 to $1,000, citing Nvidia's strong position in the AI sector, particularly with its data center GPUs which are crucial for AI applications. This adjustment reflects Nvidia's robust earnings, with the company reporting a significant revenue increase and surpassing expectations in its recent quarterly results. The optimism around Nvidia stems from the growing demand for AI technologies across various industries, suggesting that the stock might still have room to grow despite its already high valuation. The article also hints at the broader market's enthusiasm for AI, positioning Nvidia as a key player to watch for investors interested in this technology trend.

Read the Full The Globe and Mail Article at:
[ https://www.theglobeandmail.com/investing/markets/stocks/NVDA/pressreleases/30111634/wedbush-just-doubled-its-price-target-on-this-hot-ai-stock-is-it-time-to-buy/ ]