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SoundHound AI (SOUN) Stock Price, News & Analysis

SoundHound AI logo
$6.27 -1.29 (-17.06%)
(As of 11/13/2024 ET)

About SoundHound AI Stock (NASDAQ:SOUN)

Key Stats

Today's Range
$6.06
$6.75
50-Day Range
$4.35
$7.77
52-Week Range
$1.62
$10.25
Volume
72.90 million shs
Average Volume
34.40 million shs
Market Capitalization
$2.25 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$7.50
Consensus Rating
Moderate Buy

Company Overview

SoundHound AI Inc. is a cutting-edge technology company developing artificial intelligence (AI) solutions for voice-enabled devices and mobile applications. The company is headquartered in Santa Clara, California, with additional San Francisco and Tokyo offices. Founded in 2005  SoundHound AI has been at the forefront of voice recognition technology, with its flagship product being the SoundHound music and voice recognition app. The app has over 315 million downloads worldwide, and the company has also partnered with several prominent automobile manufacturers to integrate its technology into cars.

The leadership team at SoundHound AI comprises experienced executives with technology and business backgrounds. The CEO and co-founder, Keyvan Mohajer, has over 25 years of experience in technology and has led the company since its inception. In 2022, the company announced the appointment of a new Chief Financial Officer, Nitesh Sharan, who has 20+ years of experience in finance. Before joining SoundHound AI, he was the CFO at Nike and also served as the assistant treasurer at Hewlett Packard. 

SoundHound AI has been experiencing revenue growth over the past few years while maintaining a healthy profit margin. The company has also held a healthy profit margin of around 10%. However, the company has struggled with debt in the past and in Q3 of 2022, the company made changes to bring that debt under control by slashing 10% of its workers. In 2021, the company raised $100 million in a funding round led by Tencent Holdings. In Q1 of 2023, the company issued new Series A Preferred Stock and Class A common stock to the shareholders' disappointment. Over the past year, SoundHound AI's stock price has been volatile, with several significant price movements. Trading volume has been relatively stable over the past year, with an average daily volume of around 1.5 million shares. SoundHound AI's valuation metrics are favorable when compared to industry peers.

SoundHound AI operates in the highly competitive AI technology industry, which is expected to grow rapidly over the next decade. The company faces competition from established players such as Google, Microsoft and Amazon and emerging startups. The industry is also subject to significant regulatory and political pressures as governments worldwide seek to regulate the use of AI technology.

SoundHound AI has several growth opportunities, including expanding its technology into new markets and developing new products. The company has already made inroads into the automobile industry, integrating its technology into several prominent car brands. In addition, the company has recently launched a new product, Houndify, which is a platform that allows developers to integrate voice recognition technology into their applications.

One of the primary risks facing SoundHound AI is the intense competition in the AI technology industry. The company must continue to innovate and differentiate itself from its competitors to remain successful. In addition, the industry is subject to significant regulatory and political pressures, which could impact the company's growth prospects. Finally, the company's success depends on adopting voice recognition technology, which could be affected by changes in consumer preferences or advances in alternative technologies.

Another challenge facing SoundHound AI is the potential for intellectual property disputes. The company's technology relies heavily on proprietary algorithms and software, which could be subject to infringement claims by competitors. The company may also face challenges in protecting its intellectual property rights in countries where intellectual property laws need to be stronger or better enforced.

Finally, SoundHound AI's growth is dependent on the ability to attract and retain talented employees. The company operates in a highly competitive industry and faces stiff competition for top talent from other technology companies. In addition, the company must compete with other startups for access to funding, which could impact its ability to invest in research and development and other growth initiatives.

SoundHound AI Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
50th Percentile Overall Score

SOUN MarketRank™: 

SoundHound AI scored higher than 50% of companies evaluated by MarketBeat, and ranked 422nd out of 658 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    SoundHound AI has received a consensus rating of Moderate Buy. The company's average rating score is 2.57, and is based on 4 buy ratings, 3 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    SoundHound AI has been the subject of 5 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about SoundHound AI's stock forecast and price target.
  • Earnings Growth

    Earnings for SoundHound AI are expected to grow in the coming year, from ($0.36) to ($0.21) per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of SoundHound AI is -17.42, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of SoundHound AI is -17.42, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

  • Price to Book Value per Share Ratio

    SoundHound AI has a P/B Ratio of 125.40. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

  • Read more about SoundHound AI's valuation and earnings.
  • Percentage of Shares Shorted

    24.85% of the float of SoundHound AI has been sold short.
  • Short Interest Ratio / Days to Cover

    SoundHound AI has a short interest ratio ("days to cover") of 3.9, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in SoundHound AI has recently increased by 4.51%, indicating that investor sentiment is decreasing.
  • Dividend Yield

    SoundHound AI does not currently pay a dividend.

  • Dividend Growth

    SoundHound AI does not have a long track record of dividend growth.

  • Percentage of Shares Shorted

    24.85% of the float of SoundHound AI has been sold short.
  • Short Interest Ratio / Days to Cover

    SoundHound AI has a short interest ratio ("days to cover") of 3.9, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in SoundHound AI has recently increased by 4.51%, indicating that investor sentiment is decreasing.
  • News Sentiment

    SoundHound AI has a news sentiment score of 0.32. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Computer and Technology companies.
  • News Coverage This Week

    MarketBeat has tracked 44 news articles for SoundHound AI this week, compared to 16 articles on an average week.
  • Search Interest

    201 people have searched for SOUN on MarketBeat in the last 30 days. This is an increase of 88% compared to the previous 30 days.
  • MarketBeat Follows

    279 people have added SoundHound AI to their MarketBeat watchlist in the last 30 days. This is an increase of 304% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, SoundHound AI insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,606,644.00 in company stock.

  • Percentage Held by Insiders

    12.28% of the stock of SoundHound AI is held by insiders. A high percentage of insider ownership can be a sign of company health.

  • Percentage Held by Institutions

    Only 19.28% of the stock of SoundHound AI is held by institutions.

  • Read more about SoundHound AI's insider trading history.
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SOUN Stock News Headlines

SoundHound AI
SoundHound AI Will Advance By Triple Digits in 2025: Here’s Why
SoundHound AI is perfectly positioned to capture the growing demand for AI services, connecting brands with people and growing at a hyper pace.
SoundHound AI soundwaves
Is NVIDIA-Backed SoundHound AI a Buy Ahead of Nov. 12 Earnings?
SoundHound AI is working to push the envelope on AI adoption forward with its speech recognition technology. What does history say about its upcoming earnings?
Central Bank Abandons USD
Startling new evidence shows the U.S. Central Bank is abandoning the currency we’ve relied on for centuries – the United States Dollar… And placing a ‘quiet bet’ on a new type of currency… Gold.
SoundHound AI Stock Tumbles as Margins Drop
SoundHound AI: Weak Numbers Under The Surface
See More Headlines

SOUN Stock Analysis - Frequently Asked Questions

SoundHound AI's stock was trading at $2.12 at the start of the year. Since then, SOUN shares have increased by 195.8% and is now trading at $6.27.
View the best growth stocks for 2024 here
.

SoundHound AI, Inc. (NASDAQ:SOUN) issued its earnings results on Tuesday, November, 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The company's revenue was up 88.7% on a year-over-year basis.

SoundHound AI's top institutional shareholders include Charles Schwab Investment Management Inc. (0.72%), Carnegie Investment Counsel (0.27%), The Manufacturers Life Insurance Company (0.04%) and AlphaCentric Advisors LLC (0.04%). Insiders that own company stock include Keyvan Mohajer, Nitesh Sharan, Michael Zagorsek, Timothy Stonehocker, James Ming Hom, Majid Emami, Eric R Ball, Lawrence Marcus and Diana Sroka.
View institutional ownership trends
.

Shares of SOUN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that SoundHound AI investors own include Intuitive Machines (LUNR), UnitedHealth Group (UNH), BlackRock (BLK), NVIDIA (NVDA), Broadcom (AVGO), ServiceNow (NOW) and Meta Platforms (META).

Company Calendar

Last Earnings
11/12/2024
Today
11/13/2024
Fiscal Year End
12/31/2024
Next Earnings (Estimated)
3/06/2025

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Computer Software
Current Symbol
NASDAQ:SOUN
Fax
N/A
Employees
200
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$7.50
High Stock Price Target
$9.50
Low Stock Price Target
$6.00
Potential Upside/Downside
+19.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.57
Research Coverage
7 Analysts

Profitability

Net Income
$-88,940,000.00
Net Margins
-163.58%
Pretax Margin
-188.26%

Debt

Sales & Book Value

Annual Sales
$45.87 million
Book Value
$0.05 per share

Miscellaneous

Free Float
314,681,000
Market Cap
$2.25 billion
Optionable
Optionable
Beta
2.71
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This page (NASDAQ:SOUN) was last updated on 11/14/2024 by MarketBeat.com Staff
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