SoundHound AI (NASDAQ:SOUN) Shares Up 0.5% - What's Next?

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s share price was up 0.5% during mid-day trading on Thursday . The company traded as high as $16.59 and last traded at $15.88. Approximately 20,087,378 shares traded hands during trading, a decline of 65% from the average daily volume of 57,205,223 shares. The stock had previously closed at $15.81.

Wall Street Analysts Forecast Growth

SOUN has been the subject of several research reports. LADENBURG THALM/SH SH reiterated a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush lifted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. HC Wainwright reissued a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Northland Securities lifted 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. Finally, Barclays reiterated a "neutral" rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.36.

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SoundHound AI Price Performance

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 stock has a fifty day simple moving average of $16.36 and a 200-day simple moving average of $9.21.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The firm's quarterly revenue was up 88.7% compared to the same quarter last year. On average, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 94,067 shares of the company'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 completion of the transaction, the vice president now directly owns 735,685 shares in the company, valued at approximately $6,657,949.25. This represents a 11.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keyvan Mohajer sold 156,288 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the sale, the chief executive officer now directly owns 2,021,666 shares of the company's stock, valued at $40,837,653.20. This represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,782,918 shares of company stock valued at $45,391,343. 12.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently bought and sold shares of SOUN. Commons Capital LLC grew its holdings in shares of SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company's stock worth $543,000 after buying an additional 723 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company's stock worth $60,000 after acquiring an additional 750 shares during the last quarter. Keynote Financial Services LLC raised its holdings in SoundHound AI by 4.7% in the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company's stock valued at $329,000 after acquiring an additional 752 shares during the last quarter. Blue Trust Inc. lifted its stake in SoundHound AI by 197.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock worth $25,000 after purchasing an additional 830 shares in the last quarter. Finally, Choreo LLC boosted its holdings in shares of SoundHound AI by 7.6% during the 4th quarter. Choreo LLC now owns 14,424 shares of the company's stock worth $309,000 after purchasing an additional 1,015 shares during the last quarter. 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.