SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s stock price shot up 1.9% on Tuesday after Northland Securities raised their price target on the stock from $6.00 to $8.00. Northland Securities currently has a market perform rating on the stock. SoundHound AI traded as high as $14.41 and last traded at $13.06. 33,202,065 shares were traded during trading, a decline of 49% from the average session volume of 64,571,602 shares. The stock had previously closed at $12.82.
Other analysts have also recently issued research reports about the stock. Barclays reissued a "neutral" rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. DA Davidson reiterated a "buy" rating and issued a $9.50 price target on shares of SoundHound AI in a research report on Monday, September 30th. LADENBURG THALM/SH SH reissued a "neutral" rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush raised their price objective 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, HC Wainwright reissued a "buy" rating and set a $26.00 price objective on shares of SoundHound AI in a report on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.36.
View Our Latest Research Report on SoundHound AI
Insider Buying and Selling at SoundHound AI
In other SoundHound AI news, VP Majid Emami sold 94,067 shares of SoundHound AI stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $9.05, for a total value of $851,306.35. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric R. Ball sold 30,000 shares of the firm's stock in a transaction 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 transaction, the director now owns 110,907 shares in the company, valued at $890,583.21. The trade was a 21.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,782,918 shares of company stock worth $45,391,343. Insiders own 12.28% of the company's stock.
Hedge Funds Weigh In On SoundHound AI
Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. grew its stake in shares of SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company's stock worth $35,000 after purchasing an additional 3,818 shares during the last quarter. Amalgamated Bank increased its position in SoundHound AI by 108.0% during the 2nd quarter. Amalgamated Bank now owns 9,819 shares of the company's stock valued at $39,000 after purchasing an additional 5,099 shares during the period. Future Financial Wealth Managment LLC bought a new position in SoundHound AI during the 4th quarter worth approximately $40,000. Farther Finance Advisors LLC boosted its stake in shares of SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company's stock valued at $42,000 after purchasing an additional 6,716 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of SoundHound AI during the second quarter worth $43,000. Institutional investors own 19.28% of the company's stock.
SoundHound AI Stock Down 0.2 %
The stock's 50-day simple moving average is $13.44 and its 200 day simple moving average is $7.90. 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 firm has a market cap of $4.73 billion, a P/E ratio of -35.53 and a beta of 2.63.
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 ($0.07) by $0.01. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. 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. As a group, research analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.
About SoundHound AI
(
Get Free Report)
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.
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