Wall Street analyst Scott Buck with H.C. Wainwright thinks it has more room to run. Buck just issued a note maintaining his "buy" rating on the stock and ratcheted his price target from $8 to $26 per share, according to reports. That would imply another 27% upside even after the stock's recent surge higher.

SoundHound AI stock is surging amid a day of strong momentum for meme stocks. Speculative growth plays are seeing a strong rebound on the heels of recent valuation volatility, and the conversational artificial intelligence ( AI) is also getting a boost from bullish analyst coverage.

One stock that's benefited immensely from the AI revolution is SoundHound AI (NASDAQ: SOUN). Enterprise customers license its technology to support their voice-activated AI agents, which are like chatbots that can behave autonomously in a specific environment.

So, if you bought just $100 worth of SoundHound AI stock two years ago, your investment would now be worth an impressive $2,000. The stock witnessed wild swings during this period, though it won't be surprising to see SoundHound sustaining its impressive run over the next couple of years as well.