LADENBURG THALM/SH SH Reaffirms "Neutral" Rating for SoundHound AI (NASDAQ:SOUN)

SoundHound AI (NASDAQ:SOUN - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at LADENBURG THALM/SH SH in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $7.00 price target on the stock. LADENBURG THALM/SH SH's target price would indicate a potential upside of 11.64% from the company's previous close.

Several other brokerages have also recently weighed in on SOUN. HC Wainwright restated a "buy" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, September 18th. Cantor Fitzgerald upgraded SoundHound AI from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $5.00 to $7.00 in a research note on Friday, August 9th. DA Davidson restated a "buy" rating and set a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. Northland Securities lifted their target price on SoundHound AI from $5.50 to $6.00 and gave the stock a "market perform" rating in a research note on Friday, August 9th. Finally, Wedbush reissued an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.

SoundHound AI Trading Down 17.1 %

SOUN traded down $1.29 on Wednesday, reaching $6.27. The stock had a trading volume of 72,535,721 shares, compared to its average volume of 34,402,773. SoundHound AI has a fifty-two week low of $1.62 and a fifty-two week high of $10.25. The firm has a 50-day moving average of $5.18 and a 200-day moving average of $4.92. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -17.58 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 73.21%. The company had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the firm posted ($0.09) EPS. The company's quarterly revenue was up 88.7% on a year-over-year basis. Sell-side analysts anticipate that SoundHound AI will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 63,544 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares in the company, valued at $11,311,808.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Nitesh Sharan sold 39,728 shares of the firm'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 value of $193,872.64. Following the completion of the sale, the chief financial officer now directly owns 1,560,411 shares of the company's stock, valued at $7,614,805.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keyvan Mohajer sold 63,544 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total value of $312,636.48. Following the sale, the chief executive officer now directly owns 2,299,148 shares of the company's stock, valued at $11,311,808.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,275 shares of company stock worth $1,606,644 in the last quarter. 12.28% of the stock is owned by corporate insiders.

Institutional Trading of SoundHound AI

Large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of SoundHound AI during the 1st quarter worth about $109,000. Concurrent Investment Advisors LLC purchased a new stake in shares of SoundHound AI in the 1st quarter valued at about $199,000. Avantax Advisory Services Inc. purchased a new stake in shares of SoundHound AI in the 1st quarter valued at about $63,000. ARK & TLK Investments LLC purchased a new stake in SoundHound AI during the 1st quarter valued at approximately $74,000. Finally, Viawealth LLC purchased a new stake in SoundHound AI during the 1st quarter valued at approximately $65,000. Hedge funds and other institutional investors own 19.28% of the company's stock.

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.