SoundHound AI (NASDAQ:SOUN) Receives “Sell (D-)” Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of SoundHound AI (NASDAQ:SOUN) in a report published on Tuesday,Weiss Ratings reports.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of SoundHound AI in a research note on Wednesday, September 17th. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of SoundHound AI in a research note on Thursday, September 11th. Northland Securities upgraded SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 price target on the stock in a research note on Friday, August 8th. LADENBURG THALM/SH SH upgraded SoundHound AI from a “neutral” rating to a “buy” rating and lifted their target price for the company from $9.00 to $16.00 in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded SoundHound AI from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.36.

SoundHound AI Stock Up 9.0%

SoundHound AI stock opened at $20.86 on Tuesday. The stock’s 50 day moving average is $15.17 and its 200 day moving average is $11.75. SoundHound AI has a twelve month low of $4.86 and a twelve month high of $24.98. The company has a market capitalization of $8.50 billion, a P/E ratio of -33.11 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate 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 business posted ($0.11) earnings per share. The business’s revenue for the quarter was up 216.3% on a year-over-year basis. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts expect that SoundHound AI will post -0.38 EPS for the current year.

Insider Buying and Selling

In other SoundHound AI news, COO Michael Zagorsek sold 69,837 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keyvan Mohajer sold 138,523 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $2,216,368.00. Following the completion of the sale, the chief executive officer directly owned 2,461,267 shares of the company’s stock, valued at $39,380,272. The trade was a 5.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 725,541 shares of company stock valued at $12,675,035 over the last 90 days. 9.17% of the stock is owned by insiders.

Institutional Trading of SoundHound AI

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in shares of SoundHound AI by 24.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 12,251 shares of the company’s stock worth $197,000 after purchasing an additional 2,421 shares in the last quarter. Fluent Financial LLC acquired a new stake in shares of SoundHound AI in the 3rd quarter worth $1,083,000. Sound Income Strategies LLC boosted its position in shares of SoundHound AI by 37.3% in the 3rd quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock worth $34,000 after purchasing an additional 575 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of SoundHound AI in the 3rd quarter worth $194,000. Finally, Harbour Capital Advisors LLC boosted its position in shares of SoundHound AI by 35.0% in the 3rd quarter. Harbour Capital Advisors LLC now owns 35,700 shares of the company’s stock worth $574,000 after purchasing an additional 9,250 shares in the last quarter. Institutional investors and hedge funds own 19.28% 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.