SoundHound AI (SOUN) Projected to Post Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN - Get Free Report) is expected to announce its earnings results after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.11) per share and revenue of $33.73 million for the quarter. Investors that wish to register for the company's conference call can do so using this link.

SoundHound AI Stock Down 5.5 %

SOUN traded down $0.60 on Friday, hitting $10.31. The company had a trading volume of 34,516,849 shares, compared to its average volume of 47,031,792. The stock has a fifty day moving average price of $16.24 and a 200-day moving average price of $9.71. SoundHound AI has a 12-month low of $3.50 and a 12-month high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -28.64 and a beta of 2.56.

Insiders Place Their Bets

In other news, insider James Ming Hom sold 53,891 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $10.00, for a total value of $538,910.00. Following the completion of the sale, the insider now directly owns 813,193 shares in the company, valued at $8,131,930. This represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Majid Emami sold 94,067 shares of the stock in a transaction dated 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 sale, the vice president now owns 735,685 shares of the company's stock, valued at approximately $6,657,949.25. The trade was a 11.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,752,918 shares of company stock worth $45,176,843. Company insiders own 12.28% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SOUN shares. Barclays reaffirmed a "neutral" rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Wedbush boosted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 14th. Finally, LADENBURG THALM/SH SH restated a "neutral" rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.36.

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.