SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s share price fell 0.4% on Friday . The stock traded as low as $5.21 and last traded at $5.26. 4,371,690 shares changed hands during trading, a decline of 87% from the average session volume of 33,939,949 shares. The stock had previously closed at $5.28.
Analyst Ratings Changes
Several research firms recently commented on SOUN. DA Davidson reiterated a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a research note on Monday, September 30th. Cantor Fitzgerald raised SoundHound AI from a "neutral" rating to an "overweight" rating and upped their target price for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Wedbush reiterated an "outperform" rating and set a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. HC Wainwright restated a "buy" rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, September 18th. Finally, Northland Securities raised their price objective on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a "market perform" rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, SoundHound AI presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.08.
Check Out Our Latest Stock Analysis on SoundHound AI
SoundHound AI Price Performance
The business's fifty day simple moving average is $4.89 and its 200 day simple moving average is $4.74. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -13.63 and a beta of 2.73.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 business had revenue of $13.46 million during the quarter, compared to analyst estimates of $13.09 million. During the same period last year, the firm posted ($0.10) earnings per share. The company's quarterly revenue was up 53.8% on a year-over-year basis. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.36 EPS for the current fiscal year.
Insider Transactions at SoundHound AI
In related news, insider James Ming Hom sold 21,024 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the completion of the transaction, the insider now owns 865,965 shares in the company, valued at $4,225,909.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Keyvan Mohajer sold 90,641 shares of SoundHound AI stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08. Following the sale, the chief executive officer now owns 2,362,692 shares of the company's stock, valued at approximately $11,529,936.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Ming Hom sold 21,024 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $102,597.12. Following the completion of the transaction, the insider now directly owns 865,965 shares of the company's stock, valued at $4,225,909.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,275 shares of company stock worth $1,606,644. 21.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of SoundHound AI by 16.1% during the first quarter. Vanguard Group Inc. now owns 16,070,453 shares of the company's stock valued at $94,655,000 after purchasing an additional 2,226,471 shares in the last quarter. Baupost Group LLC MA acquired a new stake in shares of SoundHound AI in the 1st quarter worth approximately $6,659,000. Carnegie Investment Counsel bought a new position in shares of SoundHound AI in the third quarter valued at approximately $4,193,000. Bank of New York Mellon Corp boosted its holdings in shares of SoundHound AI by 92.7% in the second quarter. Bank of New York Mellon Corp now owns 997,543 shares of the company's stock valued at $3,940,000 after acquiring an additional 479,912 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of SoundHound AI by 563.0% during the first quarter. Janus Henderson Group PLC now owns 482,731 shares of the company's stock valued at $2,843,000 after acquiring an additional 409,917 shares during the period. Institutional investors and hedge funds own 19.28% of the company's stock.
SoundHound AI Company Profile
(
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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.
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