SoundHound AI, Inc. (NASDAQ:SOUN) Given Average Recommendation of “Moderate Buy” by Brokerages

SoundHound AI, Inc. (NASDAQ:SOUNGet Free Report) has received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.88.

Several research firms have weighed in on SOUN. Wedbush reiterated an “outperform” rating and set a $9.00 price objective on shares of SoundHound AI in a research report on Friday, May 10th. DA Davidson raised their target price on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a report on Friday, March 15th. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Monday, May 13th. Finally, Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th.

View Our Latest Stock Analysis on SoundHound AI

SoundHound AI Trading Down 3.9 %

Shares of SoundHound AI stock opened at $4.65 on Friday. SoundHound AI has a 1 year low of $1.49 and a 1 year high of $10.25. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -12.24 and a beta of 2.87. The business has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $3.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84.

SoundHound AI (NASDAQ:SOUNGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $11.59 million during the quarter, compared to analysts’ expectations of $10.10 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. SoundHound AI’s quarterly revenue was up 72.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. Research analysts forecast that SoundHound AI will post -0.33 EPS for the current year.

Insider Buying and Selling at SoundHound AI

In other news, Director Lawrence Marcus sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $7.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now owns 333,117 shares of the company’s stock, valued at approximately $2,331,819. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other SoundHound AI news, Director Eric R. Ball sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $9.55, for a total transaction of $382,000.00. Following the transaction, the director now directly owns 450,250 shares in the company, valued at approximately $4,299,887.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lawrence Marcus sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $7.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now directly owns 333,117 shares of the company’s stock, valued at $2,331,819. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,515 shares of company stock valued at $2,434,925. 21.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoundHound AI

Several hedge funds have recently modified their holdings of SOUN. Good Life Advisors LLC bought a new stake in SoundHound AI during the fourth quarter worth $174,000. PFG Investments LLC purchased a new position in shares of SoundHound AI in the 1st quarter worth about $1,335,000. Vanguard Group Inc. grew its position in SoundHound AI by 18.6% during the third quarter. Vanguard Group Inc. now owns 13,166,989 shares of the company’s stock valued at $26,466,000 after buying an additional 2,064,340 shares during the period. Quadrature Capital Ltd purchased a new stake in SoundHound AI during the third quarter worth about $457,000. Finally, Versor Investments LP bought a new stake in SoundHound AI in the fourth quarter worth about $128,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

(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.

Further Reading

Analyst Recommendations for SoundHound AI (NASDAQ:SOUN)

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