SoundHound AI, Inc. (NASDAQ:SOUN) Receives $6.88 Average PT from Analysts

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) has received an average rating of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.88.

Several research firms recently issued reports on SOUN. Cantor Fitzgerald raised shares of SoundHound AI from an "underweight" rating to a "neutral" rating and set a $4.90 target price on the stock in a research report on Thursday, April 11th. Wedbush reaffirmed an "outperform" rating and set a $9.00 price target on shares of SoundHound AI in a research report on Friday, May 10th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price target on shares of SoundHound AI in a research report on Monday, May 13th. Finally, DA Davidson lifted their price target on shares of SoundHound AI from $7.50 to $9.50 and gave the company a "buy" rating in a research report on Friday, March 15th.

Insider Activity

In other news, CEO Keyvan Mohajer sold 116,504 shares of SoundHound AI stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $3.95, for a total transaction of $460,190.80. Following the sale, the chief executive officer now owns 953,333 shares in the company, valued at $3,765,665.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Timothy Stonehocker sold 104,000 shares of SoundHound AI stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $5.00, for a total transaction of $520,000.00. Following the sale, the chief technology officer now owns 883,570 shares in the company, valued at $4,417,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keyvan Mohajer sold 116,504 shares of SoundHound AI stock in a transaction on Monday, June 24th. The stock was sold at an average price of $3.95, for a total transaction of $460,190.80. Following the completion of the sale, the chief executive officer now owns 953,333 shares of the company's stock, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Insiders have sold 417,728 shares of company stock worth $1,815,476 over the last 90 days. Company insiders own 21.30% of the company's stock.

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently made changes to their positions in SOUN. Kestra Advisory Services LLC bought a new stake in shares of SoundHound AI in the third quarter worth $191,000. Quadrature Capital Ltd bought a new stake in shares of SoundHound AI in the third quarter worth $457,000. Vanguard Group Inc. increased its stake in shares of SoundHound AI by 18.6% in the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company's stock worth $26,466,000 after buying an additional 2,064,340 shares during the last quarter. IAM Advisory LLC bought a new stake in shares of SoundHound AI in the fourth quarter worth $29,000. Finally, SG Americas Securities LLC increased its stake in SoundHound AI by 40.2% during the fourth quarter. SG Americas Securities LLC now owns 38,243 shares of the company's stock valued at $81,000 after purchasing an additional 10,957 shares during the last quarter. Institutional investors own 19.28% of the company's stock.

SoundHound AI Trading Down 0.3 %

Shares of SOUN traded down $0.01 during mid-day trading on Thursday, hitting $3.93. The company had a trading volume of 8,949,342 shares, compared to its average volume of 14,005,605. The business's 50-day simple moving average is $4.63 and its 200-day simple moving average is $4.12. The company has a quick ratio of 8.84, a current ratio of 8.84 and a debt-to-equity ratio of 0.56. SoundHound AI has a 1-year low of $1.49 and a 1-year high of $10.25. The stock has a market cap of $1.29 billion, a PE ratio of -10.34 and a beta of 2.76.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business had revenue of $11.59 million for the quarter, compared to analysts' expectations of $10.10 million. During the same period last year, the company earned ($0.12) earnings per share. The company's quarterly revenue was up 72.9% on a year-over-year basis. Sell-side analysts forecast that SoundHound AI will post -0.33 earnings per share for the current year.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.