SoundHound AI, Inc. (NASDAQ:SOUN) Given Average Rating of "Moderate Buy" by Analysts

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $12.36.

A number of research firms have weighed in on SOUN. Wedbush boosted their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Northland Securities upped their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a report on Tuesday, January 14th. HC Wainwright reiterated a "buy" rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, January 13th. LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Barclays reiterated a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th.

Insider Activity at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of SoundHound AI stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the sale, the director now directly owns 110,907 shares in the company, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Majid Emami sold 94,067 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35. Following the transaction, the vice president now owns 735,685 shares in the company, valued at $6,657,949.25. The trade was a 11.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,752,918 shares of company stock worth $45,176,843 over the last ninety days. Insiders own 12.28% of the company's stock.

Institutional Trading of SoundHound AI

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after acquiring an additional 830 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of SoundHound AI by 2,542.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock worth $26,000 after purchasing an additional 1,271 shares in the last quarter. Orion Capital Management LLC acquired a new stake in SoundHound AI in the 4th quarter valued at $30,000. NBC Securities Inc. increased its stake in SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock valued at $35,000 after purchasing an additional 3,818 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in SoundHound AI during the fourth quarter worth $40,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

SoundHound AI Price Performance

SOUN stock traded down $0.16 during trading on Friday, reaching $10.91. 37,044,187 shares of the company were exchanged, compared to its average volume of 57,828,082. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of -30.31 and a beta of 2.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The company has a 50-day moving average of $16.43 and a two-hundred day moving average of $9.66. SoundHound AI has a twelve month low of $3.46 and a twelve month high of $24.98.

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.