SoundHound AI (SOUN) Set to Announce Quarterly Earnings on Tuesday

SoundHound AI (NASDAQ:SOUN - Get Free Report) will be announcing its earnings results after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.08) per share for the quarter. Persons that wish to register for the company's earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). SoundHound AI had a negative net margin of 195.65% and a negative return on equity of 93.28%. The company had revenue of $13.46 million for the quarter, compared to analysts' expectations of $13.09 million. During the same period last year, the firm earned ($0.10) earnings per share. SoundHound AI's quarterly revenue was up 53.8% compared to the same quarter last year. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Price Performance

NASDAQ:SOUN traded up $0.28 during mid-day trading on Tuesday, hitting $5.37. The company's stock had a trading volume of 16,068,488 shares, compared to its average volume of 33,710,789. SoundHound AI has a 1 year low of $1.61 and a 1 year high of $10.25. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -13.77 and a beta of 2.71. The business's fifty day moving average is $4.95 and its two-hundred day moving average is $4.80.

Insiders Place Their Bets

In other news, CFO Nitesh Sharan sold 39,728 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $193,872.64. Following the sale, the chief financial officer now directly owns 1,560,411 shares in the company, valued at $7,614,805.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Keyvan Mohajer sold 90,641 shares of the firm's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the sale, the chief executive officer now directly owns 2,362,692 shares of the company's stock, valued at approximately $11,529,936.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nitesh Sharan sold 39,728 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $193,872.64. Following the transaction, the chief financial officer now directly owns 1,560,411 shares of the company's stock, valued at approximately $7,614,805.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,275 shares of company stock worth $1,606,644. 12.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SOUN shares. DA Davidson reiterated a "buy" rating and issued a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Northland Securities increased their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the company a "market perform" rating in a research note on Friday, August 9th. Wedbush reissued an "outperform" rating and issued a $9.00 price target on shares of SoundHound AI in a research note on Thursday, September 26th. HC Wainwright reaffirmed a "buy" rating and set a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald raised shares of SoundHound AI from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of "Moderate Buy" and an average price target of $7.08.

About SoundHound AI

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.