SoundHound AI, Inc. (NASDAQ:SOUN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $12.36.

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. Barclays restated 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 boosted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research report on Tuesday, January 14th. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Finally, LADENBURG THALM/SH SH reaffirmed a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th.

SoundHound AI Trading Down 28.1 %

Shares of NASDAQ:SOUN traded down $4.28 during trading on Friday, reaching $10.97. The company's stock had a trading volume of 176,466,981 shares, compared to its average volume of 51,269,032. The stock has a market capitalization of $4.31 billion, a PE ratio of -30.47 and a beta of 2.56. SoundHound AI has a 12 month low of $3.11 and a 12 month high of $24.98. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm's 50 day simple moving average is $16.54 and its two-hundred day simple moving average is $9.60.

Insider Transactions at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 156,288 shares of the company's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the transaction, the chief executive officer now directly owns 2,021,666 shares in the company, valued at $40,837,653.20. This represents a 7.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $20.30, for a total transaction of $760,417.70. Following the sale, the vice president now directly owns 698,226 shares of the company's stock, valued at $14,173,987.80. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Insiders own 12.28% of the company's stock.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after acquiring an additional 830 shares in the last quarter. Sound Income Strategies LLC increased its position in SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after purchasing an additional 1,271 shares during the period. NBC Securities Inc. raised its holdings in shares of SoundHound AI by 97.8% in 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. Future Financial Wealth Managment LLC purchased a new stake in shares of SoundHound AI in the 4th quarter worth approximately $40,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of SoundHound AI during the fourth quarter valued at approximately $40,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

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.