Analysts Set SoundHound AI, Inc. (NASDAQ:SOUN) PT at $14.36

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have earned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.3571.

A number of brokerages have commented on SOUN. DA Davidson boosted their target price on SoundHound AI from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen downgraded SoundHound AI from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Northland Capmk upgraded SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. Piper Sandler restated a “neutral” rating and issued a $12.00 target price on shares of SoundHound AI in a research note on Monday, July 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of SoundHound AI in a research note on Wednesday, September 17th.

Insider Activity at SoundHound AI

In other news, CEO Keyvan Mohajer sold 138,523 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $2,216,368.00. Following the completion of the sale, the chief executive officer owned 2,461,267 shares in the company, valued at approximately $39,380,272. This represents a 5.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Zagorsek sold 69,837 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $1,117,392.00. Following the sale, the chief operating officer owned 1,860,790 shares of the company’s stock, valued at approximately $29,772,640. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 495,196 shares of company stock worth $8,068,135 in the last 90 days. Insiders own 9.17% of the company’s stock.

Institutional Trading of SoundHound AI

Several hedge funds have recently added to or reduced their stakes in SOUN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in SoundHound AI by 59.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,772 shares of the company’s stock valued at $12,475,000 after purchasing an additional 234,914 shares during the period. Mackenzie Financial Corp boosted its stake in SoundHound AI by 14.5% during the 4th quarter. Mackenzie Financial Corp now owns 20,831 shares of the company’s stock valued at $413,000 after purchasing an additional 2,643 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in SoundHound AI during the 4th quarter valued at approximately $544,000. Wealth Enhancement Advisory Services LLC boosted its stake in SoundHound AI by 171.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 69,831 shares of the company’s stock valued at $1,385,000 after purchasing an additional 44,059 shares during the period. Finally, California State Teachers Retirement System boosted its stake in SoundHound AI by 13.6% during the 4th quarter. California State Teachers Retirement System now owns 303,598 shares of the company’s stock valued at $6,023,000 after purchasing an additional 36,422 shares during the period. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Trading Down 1.6%

Shares of SOUN stock opened at $15.68 on Friday. SoundHound AI has a 1-year low of $4.45 and a 1-year high of $24.98. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of -24.89 and a beta of 2.58. The stock’s fifty day simple moving average is $13.62 and its 200-day simple moving average is $11.11.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business had revenue of $42.68 million for the quarter, compared to analysts’ expectations of $32.88 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. The business’s quarterly revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that SoundHound AI will post -0.38 EPS for the current year.

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.