SoundHound AI, Inc. (NASDAQ:SOUN) Given Consensus Recommendation of "Hold" by Brokerages

Shares of SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) have been assigned an average rating of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $12.86.

A number of analysts have recently issued reports on the stock. DA Davidson increased their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Barclays reiterated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Northland Securities raised their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a report on Tuesday, January 14th. Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an "outperform" rating in a research report on Monday, December 16th. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a "hold" rating in a research note on Monday, February 24th.

SoundHound AI Stock Performance

SOUN traded up $0.78 during mid-day trading on Tuesday, reaching $9.32. 26,634,696 shares of the company traded hands, compared to its average volume of 41,999,214. SoundHound AI has a 52-week low of $3.50 and a 52-week high of $24.98. The company's fifty day moving average price is $13.49 and its 200-day moving average price is $10.17. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.67 billion, a P/E ratio of -25.99 and a beta of 2.62.

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SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The business had revenue of $34.54 million for the quarter, compared to analysts' expectations of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. On average, sell-side analysts expect that SoundHound AI will post -0.38 EPS for the current year.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 121,194 shares of the company's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $2,460,238.20. Following the transaction, the chief executive officer now owns 2,177,954 shares in the company, valued at $44,212,466.20. This represents a 5.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Timothy Stonehocker sold 34,407 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $698,462.10. Following the sale, the chief technology officer now directly owns 796,581 shares in the company, valued at $16,170,594.30. This trade represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,024,777 shares of company stock valued at $20,412,443 in the last 90 days. Insiders own 12.28% of the company's stock.

Hedge Funds Weigh In On SoundHound AI

A number of institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of SoundHound AI in the 4th quarter valued at about $544,000. United Advisor Group LLC acquired a new stake in SoundHound AI during the fourth quarter valued at $379,000. Mackenzie Financial Corp increased its stake in shares of SoundHound AI by 14.5% in the 4th quarter. Mackenzie Financial Corp now owns 20,831 shares of the company's stock valued at $413,000 after purchasing an additional 2,643 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in SoundHound AI by 153.1% in the fourth quarter. Sunbelt Securities Inc. now owns 4,555 shares of the company's stock valued at $90,000 after purchasing an additional 2,755 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in SoundHound AI in the fourth quarter valued at approximately $88,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

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.