SoundHound AI (SOUN) to Release Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is scheduled to issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.09) per share for the quarter. SoundHound AI has set its FY 2024 guidance at EPS and its FY 2025 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The firm had revenue of $17.10 million during the quarter, compared to analyst estimates of $17.75 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. SoundHound AI’s quarterly revenue was up 80.0% on a year-over-year basis. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Stock Performance

SOUN stock opened at $5.21 on Tuesday. SoundHound AI has a 1-year low of $1.49 and a 1-year high of $10.25. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. The stock has a 50-day moving average price of $5.54 and a 200-day moving average price of $3.32. The firm has a market cap of $1.61 billion, a PE ratio of -13.36 and a beta of 2.87.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SOUN. DA Davidson boosted their price target on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. Wedbush increased their target price on shares of SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. LADENBURG THALM/SH SH began coverage on shares of SoundHound AI in a report on Tuesday, January 30th. They set a “buy” rating and a $4.00 price objective on the stock. Northland Securities reissued a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Finally, HC Wainwright raised their target price on SoundHound AI from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

Insider Buying and Selling at SoundHound AI

In other news, VP Majid Emami sold 17,041 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the sale, the vice president now directly owns 467,492 shares of the company’s stock, valued at $3,912,908.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SoundHound AI news, CEO Keyvan Mohajer sold 107,927 shares of SoundHound AI stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total transaction of $399,329.90. Following the transaction, the chief executive officer now directly owns 1,218,712 shares of the company’s stock, valued at approximately $4,509,234.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Majid Emami sold 17,041 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the sale, the vice president now owns 467,492 shares of the company’s stock, valued at approximately $3,912,908.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 405,057 shares of company stock valued at $2,587,804. Corporate insiders own 21.30% of the company’s stock.

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.